Will Cambodia invest 210 billion in solar energy by 2043?

Phnom Penh, Cambodia – The Cambodian government has announced a historic investment plan in solar energy projects worth over 210 billion baht by 2043. This is part of its Power Development Masterplan (PDP) to transition the country towards clean energy and reduce carbon dioxide emissions.

Is solar energy a good source of energy in Cambodia?

Solar energy in Cambodia is the country’s second most promising clean energy source behind hydropower. Hydropower remains Cambodia’s most developed renewable energy source but also has its own challenges – such as yearly variability due to droughts and floods.

How many energy projects are coming to Cambodia?

The Cambodian Cabinet approved four energy projects this past April, a US$231 million hydroelectric power and three solar power projects with a combined, rated, maximum power capacity of 140 MW. The latter are expected to come online and dispatch power to the national grid by 2020 and 2021 in four different provinces.

How much does solar energy cost in Cambodia?

One of the promising traits of solar energy in Cambodia is its cost. The average electricity price for solar power is around USD 0.03 per kW, significantly lower than that of coal, which is USD 7.7 per kW.

What are Cambodia's goals for solar energy?

With these opportunities in mind, the government has set ambitious targets for expanding solar energy in Cambodia, aiming to inject 2 GW of solar energy into the grid by 2030. This goal is supported by a range of policies designed to facilitate the growth of the solar sector, including incentives for investment and development.

Why is solar development important in Cambodia?

Solar development will increase investment in modernising the existing energy infrastructure. Plus, off-grid solar and micro-grids will help electrify rural regions that often face the largest energy access issues. Finally, Cambodia’s energy prices are some of the highest in the ASEAN.