The Hong Kong-based energy company VPower has stopped four of its five powerprojects in Myanmar, including one in Kyauk Phyu of Rakhine State, said it’s2023 interim report.

Among those projects, VPower had halted the Thanlyin, Thakata and Kyauk Phyuprojects between  July and October last year.

According to BETV business reports, there is only one power project in MyintKran that is generating electricity (109.7 megawatts).

However the company report asserts that  operations were only suspendeddue to the contracts got expired

Myanmar's domestic economic situation seems to have stabilizedin the second half of 2023. But  the decline in foreign reservesand devaluation of Kyats remain the biggest difficulties in developing
foreign businesses.

During first six months of the year, VPower 's IBO operations had posted a loss of HK$458.3 million.

According to the report, the primary reason for this loss was because of theMyanmar projects.

Moreover, the CNTIC VPower  energy ship, which provided liquid LNG for Yangon's750 megawatts power plant, also left the country at the end of March.