Mitsui & Company Limited has acquired a 44 per cent stake in Myanmar Power Private Limited (MPPL). MAXpower Asia Group Pte Limited (MAGPL) and MPPL have signed a share subscription agreement on mutually agreed upon terms between Mitsui and MAXpower Group Private Limited (MGPL), the parent company of MPPL and MAGPL. MGPL focuses on the delivery of distributed power throughout Indonesia and Myanmar. MPPL’s approximate project costs to date are about $35 million. MPPL operates, through its subsidiary MAXpower (Thaketa) Company Limited, a gas-fired generation plant consisting of 16 General Electric Jenbacher gas engine generator units with a total capacity of 50 MW in Myanmar and sells electricity to Myanmar Electric Power Enterprise under a power purchase agreement with a 30-year term.
