ADB, Cambodia’s electricity supplier sign mandate for solar power in Cambodia
PHNOM PENH: The Asian Development Bank (ADB) signed a transaction advisory services mandate with Cambodia’s state-owned Electricité du Cambodge (EdC) to support the development of 2 gigawatts (GW) of solar power in Cambodia, the lender said in a press statement on Wednesday.
The mandate will help the Southeast Asian nation achieve its goal of carbon neutrality by 2050, the statement said.
Under the mandate, the ADB will help the EdC conduct a nationwide study on opportunities for additional solar power capacity in combination with a Battery Energy Storage System (BESS), to be implemented from this year through 2030, it said.
The ADB will also assist the EdC in bidding out a 100-megawatt pilot project identified under the study to the private sector, which will build, finance, and operate the project, the statement said, adding that the pilot project is expected to mobilize up to 100 million U.S. dollars of investments and serve as a model to replicate fast and efficient procurement of affordable renewable power in Cambodia.
The development of 2 GW of solar power is in line with the strategy of the Cambodian government to meet its growing energy demand by maximizing the adoption of renewable energy and energy efficiency, the statement said.
Key to the strategy will be harnessing Cambodia’s abundant solar resources, whose share in the installed capacity increased from practically nothing in 2016 to around 12 percent at the end of 2021, it added.
Source: english.news.cn
