Myanmar’s Solar Ambitions Kickstarted With $480 Million ACO Pact

Myanmar will expand its sources of clean energy through an agreement with ACO Investment Group, a U.S.-based private-equity fund focusing on Asian emerging markets, to develop two solar-energy plants.

The project, consisting of two 150-megawatt solar facilities, is valued at $480 million, according to a release from the Office of the U.S. Trade Representative. The plants are expected to account for 10 percent to 12 percent of Myanmar’s power generation when completed in 2016, the release said.

The undertaking comes as the country begins to put a policy structure in place to encourage renewable energy.

Continues here:- http://www.bloomberg.com/news/2014-08-28/myanmar-s-solar-ambitions-kickstarted-with-480-million-aco-pact.html

US Fund in Deal to Build Myanmar Solar Plants

YANGON, Myanmar — Aug 28, 2014, 7:54 AM ET

A U.S investment group has signed a $480 million deal to build two solar energy plants in central Myanmar, one of the largest investments by an American firm since the easing of U.S. sanctions.

The agreement, inked by the ACO Investment Group and the Ministry of Energy, is aimed at helping ease electricity shortages in the country of 60 million, which only recently emerged from a half-century of military rule and self-imposed isolation.

Continues here:- http://abcnews.go.com/International/wireStory/us-fund-deal-build-myanmar-solar-plants-25156596

Solar-Energy Deal to Increase U.S. Investment in Myanmar

Project to Be Managed by Company Owned by ACO Investment

Updated Aug. 28, 2014 7:37 a.m. ET

A Burmese man sat next to a construction site on April 19 in Yangon, Myanmar. U.S. investment will increase with a plan to develop solar energy plants in the country. Getty Images

A New York-based alternative investment manager on Thursday said it would invest about US$480 million to develop solar energy plants in Myanmar, one of the largest U.S. investments in the country since economic sanctions were eased two years ago.

Continues here:- http://online.wsj.com/articles/solar-energy-deal-to-increase-u-s-investment-in-myanmar-1409217493