IFC joins Norfund, Yoma Strategic to raise US$28 mil to bring power to rural Myanmar

SINGAPORE (Apr 3): International Finance Corporation (IFC) is joining as a new investment partner in Yoma Micro Power, a joint venture between Yoma Strategic Holdings and Norwegian state-owned fund Norfund.

Together, the partners intend to raise up to US$28 million ($36.7 million) by way of equity and debt financing for its project to power off-grid Myanmar.

The investment will enable Yoma Micro Power to generate and distribute electricity using solar-based micro power plants and mini-grids to power telecom towers in rural Myanmar as well as off-grid communities.

---

Related Stories

• Yoma Strategic swings back into the black with FY2024 net profit of US$21.2 mil, core ebitda up 160.5% y-o-y
• Myanmar is burning, posing a challenge for Asean
• PhillipCapital highlights Yoma’s response to challenging macro environment in an unrated report

---