Singapore-based Yoma Strategic Holdings and Norwegian Investment Fund (Norfund) have announced plans to invest $2 million in micro power plants and mini grids in Myanmar. The power generation project aims to provide electricity to rural communities with no access to the national power grid and for telecommunications towers to be operational in off-grid areas. Yoma Strategic and Norfund have entered into a JV, Yoma Micro Power (S) Pte Ltd, with each holding a 47.5 per cent stake. The remaining 5 per cent is held by an individual. A pilot programme will start in the Sagaing region, for which Yoma Strategic will contribute $1 million out of the total initial investment committed.
