Corporate News

Successful Launch of Grid-Connected Solar Power Plant Financed by AYA Bank

Posted on May 29, 2024

AYA Bank proudly announced the official commissioning of Thazi 30MW Solar Power Plant, financed under AYA Green Financing Program. On 23rd May 2024, the Thazi and Thapyaywa solar-energy power plants in Mandalay Region were officially launched by the Ministry of Electric Power. The opening ceremony was held in Nay Pyi Taw, marking a significant step towards achieving Myanmar’s Nationally Determined Contributions (NDCs) Plan 2021. 

Aiming to promote and support Sustainable Consumption and Production (SCP) in Myanmar, AYA Bank expands its sustainable finance portfolio for Solar Power Plant projects. Myanmar plans to achieve national electrification by 2030 and generate 11% of electricity from renewable sources such as hydro and solar power. Since Myanmar is rich in renewable energy sources from wind power and sunlight available all seasons in many parts of the country, we take the opportunity to support energy requirements through our green financing solution.  

In 2023, AYA Bank proudly provided green financing facility to Great Success Energy Co., Ltd. for the development of 30MW Solar Power Plant, located in the Ywar Gyi and Ywar Pale Village Tract, Thazi Township of Meikhtila District, Mandalay Region. The project construction commenced from 2023 and it entered into commercial operation in 2024. The newly opened Thazi and Thapyaywa facilities each have an installed capacity of 30 megawatts, generating a combined total of 148 million kilowatt-hours of electricity annually. Nearly 99,000 households will get access to clean and renewable power following the launch of two solar power plants.

AYA Bank is honored to take part in Myanmar’s transition to renewable energy. Our financing solutions for our clients have been instrumental in the buildout of the country’s renewable energy sector. We are committed to achieving a prosperous, inclusive, resilient, and sustainable Myanmar while focusing on responsible business practices.