Project Milestones

Date Milestones
DateMar 2019 MilestonesOfficial opening ceremony of Sembcorp Myingyan IPP
DateOct 2018 MilestonesSembcorp Myingyan IPP commences full commercial operations, generating around 1,500 gigawatt hours of power for supply to EPGE, helping to meet the power needs of around 5.3 million people.
DateMay 2018 MilestonesSembcorp Myingyan IPP commences first phase of commercial operation.
DateMar 2018 MilestonesThe Sembcorp Myingyan IPP project was awarded the International Financial Law Reform (IFLR) Asia Awards 2018 Project Finance Deal of the Year.
DateDec 2017 MilestonesProject was awarded 2017 Project Finance International: Asia Pacific Power Deal of the Year
DateMay 2017 MilestonesThe Sembcorp Myingyan IPP project reaches financial close. The speed at which the whole process was completed showcased the efforts of all parties involved in formulating a set of risk allocation acceptable to the international lending community.
DateJan 2017 MilestonesSembcorp Myingyan Power Company signs build-operate-transfer agreement with MOEE where the company will build and operate the power plant for 22 years, after which the facility will be transferred to the Myanmar government
DateMar 2016 MilestonesSembcorp Industries signs a long-term power purchase agreement (PPA) with Myanmar Electric Power Enterprise (MEPE), now Electric Power Generation Enterprise (EPGE), for the supply of 225 megawatts of power for a period of 22 years
DateDec 2015 MilestonesSembcorp enters into a Memorandum of Agreement with Myanmar's MOEE. The signing of the memorandum of agreement followed Sembcorp's receiving the notice of award to develop and operate the power plant
DateApr 2015 MilestonesThe Sembcorp Myingyan IPP project is awarded by MOEE to Sembcorp Utilities, a wholly-owned subsidiary of Sembcorp Industries, marking Sembcorp's entry into Myanmar's fast-growing power market
DateOct 2014 MilestonesSembcorp submits final bid for the project, along with four other bids, The Initial Mandated Lead Arrangers worked closely with Sembcorp in developing the financing term sheet, coordinated by Clifford Capital, that formed the basis of a highly competitive and winning financing package
DateNov 2013 Milestones Myanmar's Ministry of Electric Power (MOEP) of Myanmar , now the Ministry of Electricity and Energy (MOEE), issues an initial Request for Proposal for an IPP; Sembcorp starts work on bid submission