The Asian Development Bank (ADB) will support and finance the development of around 2 GW of solar power projects in Cambodia as part of the country’s efforts to achieve net zero by 2050.
A transaction advisory services mandate has been signed with state-owned utility Electricite du Cambodge (EDC) to explore opportunities for solar power capacity in combination with a battery energy storage system. The initiative will run through 2030. Additionally, ADB will assist EDC in bidding out a 100 MW pilot project identified under the study to the private sector, which will build, finance, and operate the project. The pilot scheme is expected to mobilise up to USD100 million of investments and will be used as a model that will be subsequently replicated in other projects. The program is considered to be one of the largest yet in Cambodia’s renewable sector.