According to TrendForce, Cambodia is accelerating the development of clean energy to reduce its reliance on imported energy, enhance the country’s energy security, ensure reliable and affordable power supply, and help this Southeast Asian nation achieve its goal of having at least 70% clean energy by 2030.
Last week, Cambodia approved 23 investment projects in the power sector for 2024-2029, with a total expected investment of USD 5.79 billion. According to the Khmer Times, the approved projects include 12 solar projects, 6 wind projects, 1 biomass and solar combined project, 1 LNG power generation project, 1 hydropower project, and 2 energy storage stations.
These projects will significantly boost Cambodia's domestic power supply capacity, providing more reliable and affordable electricity, effectively addressing domestic power shortages, and ensuring the national grid can meet the growing demand for electricity.
The Cambodian government places great importance on environmental sustainability. According to the Khmer Times, Minister of Mines and Energy Suy Sem reiterated during a lecture on "Cambodia’s Energy Policy" at the Royal University of Phnom Penh on the 4th that the country will not build new coal power plants in the future. He also stated that Cambodia has publicly committed to not building hydropower dams on the Mekong River.
Suy Sem further stated that by 2026, Cambodia will integrate wind power into the national grid to diversify and strengthen the country’s energy supply. He noted that although Cambodia currently relies on coal to meet energy demand due to cost and supply stability concerns, the authorities remain committed to expanding investment and development in clean energy.
According to the Phnom Penh Post, by the end of 2023, Cambodia had provided electricity to over 14,000 villages nationwide, covering 99.88% of the country. Cambodia plans to suppress electricity prices through the expansion of clean energy projects, reducing living costs, and promoting the development of industry, trade, and agriculture.
Source：TrendForce