Financing secured for 100 MW of solar power capacity in Cambodia
Post date: 02/06/2019 - 10:46
The Asian Development Bank (ADB) is participating with a loan of $7.4 million in the financing of solar power plants with a total of 100 MW in Cambodia. According to the ADB, the most important financier for the »National Solar Park Project« is the »Strategic Climate Fund«, which is supported by several development banks (including the ADB) together with the World Bank. The fund grants a loan of $11 million and a grant of $3 million. Further $500,000 come as subsidy from the South Korean »e-Asia and Knowledge Partnership Fund«, which supports the national electricity supplier Electricité du Cambodge (EDC) and the national electricity market regulator in planning solar power plants. The governments of Canada and Singapore are also partners in the project.
According to the ADB, there are still around five million people without electricity in Cambodia, although the country has made great progress and in 2018 alone has built up additional supply capacities of 2.18 GW – of which 1.33 GW are hydropower and 780 MW fossil power plants. The nationwide installed solar power capacity, on the other hand, is only 10 MW. According to ADB estimates, around 200 MW could be added by 2021 without burdening the national supply grid.
In the »National Solar Park Project«, tenders are to be held in two phases for PV power plants in the province of Chhnang, the first of which has a volume of 60 MW. The EDC is thus supposed to be able to finance generation plants and the necessary infrastructure, including grid connection.