VPower Group, one of the fastest growing fast-track distributed power providers just signed two power generation contract arrangements with Myanmar's state electricity enterprise, for the Economic Zone of Kyauk Phyu and key industrial city Myingyan, both for over the period of five years.
In Kyauk Phyu, VPower will be doubling the power generation output to 90MW to be injected directly to the existing 230kV transmission network. The current 45MW power plant won the recognition of being among Fast-track Power Plant of Year in August. Just like the award-winning installation, it is set to be brought online in 120 days.
The 133MW power installation in Myingyan will power the state-owned steel mill. Securing a reliable supply of electricity is key to operating the electric arc furnace economically. This latest power plant will take into account the voltage fluctuations and a first technical challenge of its kind for VPower. It will also connect directly to the existing 230kV lines located close to the mill.
Both distributed power projects will be constructed in parallel and is set to going into operation in March 2016. Running on natural gas, the two plants will have the advantage of much lower emissions and better efficiency than that of traditional fuels, and will stand out as the more cost-effective power solution. VPower's leading technology in gas generator sets and power modules packs more power per unit, making it one of the most economical power installations on the market.
Kenny Li, Commercial Director of VPower said, "Driving sustained economic growth makes reliable power generation Myanmar's key priorities. The project builds upon our experience and will further our strong track record in gas engine-based power generation capabilities."
"VPower's mission is to address the urgent power demand as cost-effectively as possible, and our mobile containerized power units are among the most flexible and effective solutions, one that's available via flexibility contract arrangements to address immediate power needs."
VPower invests more than USD300m in new, environmentally responsible rental power technologies. The investment will make up the largest natural gas power generator rental solution in China and also all of Asia.
"The investment is our commitment to drive forward new era of environmentally-conscious power generation," said Samson Lam, Executive Chairman and Co-founder of VPower. "It underlines our commitment to help our customers seize the opportunities to build up a power generation capacity that can be sustained for the near future."
About VPower Group
VPower is a leading distributed power provider, delivering fast-track, short to medium term mobilized power solutions to emerging economies. It is also a system integrator of power generation systems, and invests in high efficiency, eco-conscious power generation technology.
Established in 2001, VPower now offers one of the most cost-effective engine-based power with industry-leading generation efficiencies. It is headquartered out of Hong Kong and employs over 800 employees worldwide.