The Asian Development Bank and Cambodia’s national utility, EDC, have signed a transaction advisory services mandate to support the development of 2GW of solar power in Cambodia.
EDC will conduct a nationwide study to identify potential solar projects for implementation from this year to 2030. The study will also identify opportunities for an undisclosed amount of battery energy storage (BESS). Storage is expected to improve grid stability as the share of solar in Cambodia increases. “Of upmost importance for EDC is the stability of the grid, I presume they will use the BESS mostly for this purpose,” Massimiliano Tropeano, sustainability and garment expert at EuroChamb Cambodia told pv magazine.
It will initially identify a 100 MW pilot project to be built, financed, and operated by the private sector. ADB will assist Électricité du Cambodge in the bid, which is expected to mobilize up to $100 million in investments. The expected date of the bid was not disclosed.
“This program will be Cambodia's most ambitious yet in the renewable sector,” said Cleo Kawawaki, the head of ADB’s office of public-private partnership. “It will lower electricity costs and improve energy security by taking advantage of domestic resources. We hope to contribute to this effort by supporting a well-planned pipeline for transparent bids that attract active competition to optimize the efficiency, innovation, and capital of the private sector to benefit the people of Cambodia.”
The mandate builds on ADB’s earlier support to Cambodia’s solar sector. That includes backing for the country’s first National Solar Park in Kampong Chhnang, which will generate up to 100 MW of solar power. The government recently started to remove some hurdles to the adoption of renewable energy, and it is now considering halving the current monthly capacity fee on rooftop PV systems.
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