SINGAPORE, 9 April 2019 – According to the International Energy Agency, decentralised solutions such as mini-grids are the most cost-effective option to deliver electricity to more than 70 percent of the unconnected. Today, Mandalay Yoma Energy, which is a joint venture between GDF International SAS (GDFI), a member of the ENGIE Group, and Sol Partners, has announced that it will provide electricity to over 100,000 households across Myanmar rural areas. Both organisations will be responsible for designing, supplying, installing and operating the mini-grids over a ten to fifteen-year timeframe, enabling significant socio-economic development
The economic growth is real: mechanization, expansion and creation of new micro-enterprises are now possible thanks to sufficient and reliable electricity previously unavailable to the villagers. This is for instance the story of a rice merchant who used to power his machines with diesel, and who experienced a tremendous change by switching to electricity. Besides, social impacts of electricity access of course include improved health, safety and study conditions.
The development of projects will be under the Department of Rural Development’s mini-grid program that is aligned with the Myanmar National Electrification Plan 2030 supported by the World Bank that aims to electrify 100% of Myanmar’s households by 2030.
By leveraging ENGIE’s global expertise as an established leader in renewable energy and Mandalay Yoma Energy’s local experience as Myanmar‘s leading solar energy company, the partnership will promote access to clean and reliable energy, supporting Myanmar’s Government in reaching its goal of universal access to electricity in the country.
The program will be overseen by high-level representatives from Myanmar’s Department of Rural Development, Ministry of Electricity and Energy and the World Bank.
Paul Maguire, CEO of ENGIE Asia-Pacific said, “ENGIE continues to be the leader of the energy transition in low-carbon power generation, with a key focus to champion electrification across the Asia Pacific region. As a testament of our support, we are pleased to partner with Mandalay Yoma Energy, a leader in renewables in Myanmar, to create future-ready, clean and sustainable energy solutions. This collaboration in the region is a significant milestone towards our vision of providing 20 million people around the world with access to sustainable, decentralised energy by 2020.”
“Mandalay Yoma Energy is pleased to work with ENGIE on this landmark project. We see exciting potential in our partnership with ENGIE to further develop the sustainability of energy access and the quality of services provided to end customers. This investment indicates a growing momentum to bring electricity to remote areas of Myanmar,” said Kapil Seth, CEO of Mandalay Yoma Energy.
Our group is a global reference in low-carbon energy and services. In response to the urgency of climate change, our ambition is to become the world leader in the zero carbon transition of our customers, in particular businesses and local authorities. We rely on our key businesses (renewable energy, gas, services) to offer competitive turnkey solutions "as a service".
With our 160,000 employees, our customers, partners and stakeholders, we are a community of Imaginative Builders, committed every day to more harmonious progress.
Turnover in 2018: 60.6 billion Euros. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe) and non-financial indices (DJSI World, DJSI Europe and Euronext Vigeo Eiris - World 120, Eurozone 120, Europe 120, France 20, CAC 40 Governance).