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The United States has reached an agreement with the Burmese government to develop two solar energy plants, the office of the US Trade Representative announced on Thursday.
Two 150 megawatt solar energy plants will be constructed, one in Meikhtila and one in Myingyan.
The project will require an investment of about US$480 million, making it one of the largest US-funded investments in Burma to date. Convalt Energy, part of the ACO Investment Group, has been selected as the managing company.
The company estimates that the project will create about 400 temporary construction jobs and 100 permanent positions, the statement said.
An estimated 10-12 percent of the nation’s power generation is expected to come from the two projects upon its completion in 2016.