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ADB to help finance 100-MW solar project in Cambodia

Sun in Cambodia. Author: nonuou.

May 24 (Renewables Now) - The Asian Development Bank (ADB) said today it will extend a loan of USD 7.64 million (EUR 6.8m) to suport the construction of a 100-MW photovoltaic (PV) park in Cambodia.

The National Solar Park Project was developed with grants from the governments of Canada and Singapore and envisages the installation of a power plant in Kampong Chhnang Province, related facilities and a power transmission system connecting to the main grid near Phnom Penh. The PV capacity will be added in two phases, of 60 MW and 40 MW, respectively, by Electricite du Cambodge (EDC). The utility will award contracts to independent power producers through a competitive tender, to be organised with ABD’s assistance.

In addition to the ADB loan, the project will also get a USD-11-million loan and USD 3 million in grant financing from the Strategic Climate Fund of the World Bank’s Climate Investment Funds (CIFs), and also a technical assistance grant of USD 500,000 from the Republic of Korea e-Asia and Knowledge Partnership Fund. ADB said it will take care of administering the funds.

The project is seen to help Cambodia diversify its energy mix and improve the competitiveness of its economy, ADB said. The lender estimates that by 2021, around 200 MW of solar can be added there, relying on available technology and without disrupting the grid.

At present, almost 5 million Cambodians have no access to electricity. Last year, the country’s installed power generation capacity stood at 2,175 MW, around 62% of which came from hydropower sources. The capacity of its solar parks is only 10 MW.

(USD 1.0 = EUR 0.893)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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