May 16, 2019 / 10:24 AM / 5 days ago

Japan's Shikoku Elec, Chugoku to buy stake in Myanmar power plant

TOKYO, May 16 (Reuters) -

* Japan’s Shikoku Electric Power and Chugoku Electric Power said on Thursday they would buy 28.5% stake each in Myanmar’s Ahlone thermal power plant from a TTCL unit, to expand their overseas operations.

* The 121 megawatt(MW) gas-fired combined-cycle power station in Yangon had launched commercial operations in April 2013.

* The 28.5% stake would be worth about 4 billion yen-5 billion yen ($37 million-$46 million), a Shikoku spokesman said, adding that its overseas power generation capacity through its equity holdings would reach 710 MW, which includes the latest deal, about half of its target of 1.5 gigawatt by March-end in 2026.

* Chugoku’s overseas power generation capacity would reach 650 MW after the deal, a company spokesman said. ($1 = 109.5400 yen) (Reporting by Yuka Obayashi, Editing by Sherry Jacob-Phillips)

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