The Asian Development Bank (ADB) has approved a $7.64 million loan to be included in a financing package to construct a 100-megawatt solar power plant in Kompong Chhnang province.
“Having reliable, sustainable, and affordable energy sources is crucial for the economic development of a rapidly expanding country such as Cambodia,” said ADB Principal Climate Change Specialist Mr. Pradeep Tharakan in an announcement today.
“ADB’s assistance will not only help diversify Cambodia’s energy mix through solar power development, but also help the country meet its greenhouse gas emissions reductions target, as per the Paris climate agreement,” added Tharakan.
The loan will be included in a National Solar Park Project financial aid package that will include another $11 million loan, a $3 million grant and a $500,000 technical assistance grant from South Korea.
Electricite du Cambodge (EDC) will begin infrastructure projects like access roads, fencing, and drainage systems for the power plants in Kampong Chhnang province.
The solar power plant projects “will be bid out to independent power producers in two phases, with the first phase aimed at a capacity of 60 MW,” according to ADB.