Cambodia has secured funding to improve its energy generation as part of efforts to enhance access to energy to nearly 5 million people living without electricity.
Cambodia will make use of a $7.64 million loan issued by the Asian Development Bank to diversify its energy mix by building a new 100MW solar park in Kampong Chhnang province.
The solar park will be built as part of the country’s National Solar Park Project, which secured a $11 million loan from the ADB and a $3 million grant from the Strategic Climate Fund through the Scaling UP Renewable Energy Programme.
The Republic of Korea e-Asia and Knowledge Partnership Fund will provide Cambodia with a $500,000 technical assistance grant to help utility Electricite du Cambodge and regulator Electricity Authority of Cambodia to support their solar capacity development.
Cambodia is also making use of grants from Canada and Singapore to expand its solar energy capacity. To date, the country only has 10MW of solar energy generation despite an abundance of solar radiation. The county has the potential to integrating 200MW of solar energy with the main grid by 2021.
Mr. Pradeep Tharakan, ADB Principal Climate Change Specialist, said: “Having reliable, sustainable, and affordable energy sources is crucial for the economic development of a rapidly expanding country such as Cambodia.
“ADB’s assistance will not only help diversify Cambodia’s energy mix through solar power development, but also help the country meet its greenhouse gas emissions reductions target, as per the Paris climate agreement.”