Power and Energy Commission discusses sector development

 

Since electricity and energy projects lure high investment by nature, increasing investment in the private sector should be a key priority, said Admiral Tin Aung San.

Chairman of the Electric Power and Energy Development Commission, State Administration Council Member, Deputy Prime Minister and Union Minister at the Prime Minister’s Office, Admiral Tin Aung San, delivered a speech at the commission’s 4/2025 meeting at the SAC Office in Nay Pyi Taw yesterday afternoon.

Speaking on the occasion, the Admiral said the State Administration Council formed the commission on 18 December 2024, and set 15 missions in seven months. These missions were carried out to a certain extent.

Regarding the Generation Mix, the ministries concerned, organizations and experts should discuss the matters related to National Electricity Master Plan 2014 (JICA) and Nationally Determined Contribution (NDC) 2021 to set the Generation Mix with annual estimation depending on the power need of the country, not to affect the environment and inclusion of certain ratio of renewable energy.

Similarly, in consuming the electricity and energy, solar, wind and LNG resources are used, and also the procurement of power via cross-border power grids is implemented. In the energy sector, high technology is applied, while the new oil fields are explored, new offshore projects are conducted, and new oil refineries are established and upgraded.

Since electricity and energy projects lure high investment by nature, increasing investment in the private sector should be a key priority. Therefore, the Ministry of Investment and Foreign Economic Relations formed a unit for enhancing international and regional cooperation and investment in the electricity and energy sector. Moreover, arrangements are being made to invite local and foreign investment in electricity and energy sectors, create opportunities, offer incentives, reduce delays, ensure the One Stop Service for project land areas, financial services and resolve the challenges promptly.

The Admiral highlighted the instructions of the Head of State regarding the development in the electrical sector, which plays a key role for national interest and socioeconomic, and other guidance of the Head of State made during the visit to a solar panel factory in Yangon.

He continued that offshore projects are important in the energy sector, and they need to supervise the relevant companies to start the study and exploration processes to initiate the projects within the time duration. It also needs to emphasize the completion of upgrading oil refineries in time to reduce the use of foreign exchange, and to ensure the effective use of power, so that the inspection team does not experience power loss and check the strength of the power grid and sub-power station.

The electricity and power sectors are wide, and they can develop with the collaboration of all respective stakeholders.

Meeting participants reported on implementations based on the third meeting’s decisions, electricity and power projects, use of renewable energy, and other work processes and plans.

MNA/KTZH

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