The new power plant is owned by APR Energy, a company headquartered in Florida, but listed in London. APR Energy isn’t the first foreign company to secure a power deal in Myanmar, and its power plant isn’t particularly large. However, the company appears to have the most suitable business model for Myanmar as well as other underdeveloped countries that desperately need power but do not have the regulatory or legal infrastructure to draw in long term, foreign investors.
The Myanmar government even found APR Energy a suitable local partner. Supreme Group, which was found by a retired professor at the Rangoon Institute of Technology, is one of the biggest engineering companies in the country. However, the authorities actually allowed the project to proceed even before the joint-venture agreement between APR Energy and Supreme was signed, according to Myanmar sources.
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