SINGAPORE (Oct 14): Yoma Strategic Holdings is forming a partnership with Philippines-based AC Energy, Inc. to explore renewable energy projects in Myanmar.
The 50:50 joint venture will invest at least US$30 million ($41.1 million) in Yoma Micro Power (YMP), with the aim of developing around 200 megawatts of additional renewable energy projects within Myanmar, including participation in large utility scale renewable projects.
Yoma Strategic – which also has real estate, consumer, automotive and financial services investments in Myanmar – currently holds 35% in YMP, which builds micro power plants and mini-grids to provide electricity to off-grid rural communities and telecommunications towers in the country.
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