U.S. Trade Representative Michael Froman led a signing ceremony for an agreement between ACO Investment Group and Myanmar’s Ministry of Electric Power. USTR identified Convalt Energy as the company managing the proposed development.
Solar to complement hydropower
The agreement provided a framework for two 150 MW solar plants. USTR explained that solar generation could complement the country’s hydropower supply during the dry season.
Local investment and skills
The announcement described an estimated $480 million project, with anticipated construction and permanent employment, infrastructure improvements and training. It also recorded Convalt’s pledge to train local employees and help build libraries at nearby schools. The capacity, investment and employment figures were development expectations announced in 2014.