Myanmar Electric Power Enterprise and Maxpower (Thaketa), a subsidiary of Navigat Group, have signed a power purchase agreement for a 50MW gas-fired power plant being built in Myanmar.

To be located in the Thaketa district of Yangon, the plant will feature 16 General Electric (GE) Jenbacher gas engines. Maxpower has invested $35m in the plant, which is now fully functional.

The latest move will help strengthen the business relationship of Maxpower and the Government of Myanmar for potential power project development in the country.

Navigat COO and co-founder Sebastiaan Sauren said the company is committed and determined to deliver fast, reliable and affordable power to emerging regions, using the latest high efficiency technologies and top quality equipment.

"With this agreement, Maxpower is the first truly foreign power company to enter into a long-term relationship with the Myanmar Ministry of Electric Power.

"Further, with the completion of this power plant, Maxpower will be the only power company with projects in Indonesia, Thailand and Myanmar," added Sauren.

MEPE managing director U Htein Lwin said, "MAXpower’s deep experience in SE Asia and its understanding of the inherent challenges in this project combined with GE’s robust technology made it the logical partner for this landmark agreement.

"We see it as a blueprint for other initiatives to develop the electricity sector across Myanmar."