GEAPP to Aid Myanmar with 100 Solar Projects, Unlocking $60 Mn Solar Investment

GEAPP to Aid Myanmar with 100 New Solar Projects, Unlocking $60 Mn Solar Investment

The Global Energy Alliance for People and Planet (GEAPP) has revealed that it will lend support to Smart Power Myanmar’s over the period of the next three years to enable it to focus on transforming access to affordable and clean energy for Myanmar’s businesses in the agricultural value chain.

In partnership with GEAPP, SPM will provide support to commercial and industrial small and medium sized enterprises by collaborating with local banks and offering technical expertise to enable financing for rooftop solar power systems.

With this partnership, GEAPP will facilitate the development of 100 new solar projects across Myanmar, supplying a total of 57 MW of clean electricity. This initiative, which will unlock $60 million worth of solar investment, will also pave the way for the sustenance of 72,000 jobs in the agricultural value chain, improving the livelihoods of more than 600,000 people who directly or indirectly depend on reliable access to electricity.

Across Myanmar, tens of thousands of local businesses are dependent on a reliable, cost-effective supply of electricity. Without it, these businesses are often forced to reduce their workforce or shut down completely, resulting in lasting economic damage to livelihoods, value chains, and communities. Against such a backdrop, the establishment of solar projects in the country offers a ray of hope.

Smart Power Myanmar accelerates electrification through catalysing new sources of investment, knowledge and know-how, with an aim to end energy poverty and promote economic opportunity in Myanmar.

Recently, Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) and the Global Energy Alliance for People and Planet forged a partnership for the upcoming 500 megawatts (MW) tender in Maharashtra. MAHAPREIT and GEAPP drew the roadmap for the implementation of the 500 MW tender for PM-KUSUM C/Mukhyamantri Saur Krushi Vahini Yojana. 100 million tonnes of carbon will be averted because of these projects.

The Global Energy Alliance for People and Planet (GEAPP) is an alliance of philanthropy, governments, technology, policy, and financing partners. The alliance aims to reduce 4 gigatons of future carbon emissions, expand clean energy access to one billion people, and enable 150 million new jobs.