The project, which will feature two 150MW solar energy facilities, is expected to cost $480m.
The plants, which are expected to complete in 2016, will account for 10% to 12% of Myanmar’s electricity generation in Myanmar.
ACO Investment’s portfolio firm Convalt Energy will manage the project, which will deliver power to Burma’s national grid.
The US Trade Representative Michael Froman said: "Efforts like these support the ambitious definition of development that is at the heart of President Obama’s trade agenda.
"By promoting trade and investment, we are unlocking even more opportunities for workers and businesses in both countries that promote not only higher incomes at home and around the world, but also driving sustainable development. We’re doing this because we know that trade works best when its benefits are broadly shared."
The Office of the US Trade Representative (USTR) said Burma relies on hydropower, which reduces in production during the dry season, when solar sources are at their peak.
The USTR said communities in the Mandalay region will benefit from the project’s investments and it will boost the city’s manufacturing potential as well as resources and help provide power to develop the Myotha Industrial Zone, which is situated within 15 miles of one of the power plants.
