Deutsche Bank (China) has provided a $43 million account receivable purchase facility to China National Technical Import & Export Corporation (CNTIC) for the construction of a gas-fired power generation project in Myanmar
Backed by China Export & Credit Insurance Corporation, the mid-tenor facility is supporting a 90 MW plant located in Myingyan township, in the Mandalay region. The power plant is developed and operated by Hong Kong-based VPower under a five year power purchase agreement with Electric Power Generation Enterprise (EPGE) of Myanmar. CNTIC has been appointed as engineering, procurement, and construction (EPC) contractor for this project, which entered into commercial operations in February 2019 and will generate a minimum of 630 GW hours of electricity per year.