Investment projects in clean and renewable energy play a crucial role in the Cambodian government’s efforts to reduce emissions from fossil fuels. This strategy not only addresses environmental concerns but also aims to decrease electricity prices in Cambodia.
By attracting financiers to invest directly in the country, Cambodia aims to enhance its ability to export products internationally. Recently, the Council for the Development of Cambodia approved a $65.5 million investment for SchneiTec Vibrant Co Ltd to construct a 60-megawatt solar power plant in Svay Rieng province.
The Minister of Mines and Energy, Keo Rattanak, highlighted the country’s progress in the electricity sector, emphasizing that Cambodia is recognized for its clean-source energy potential.
Over 60% of the country’s electricity is derived from renewable sources such as solar, wind, and water. The shift towards clean energy not only contributes to environmental sustainability but also attracts international investment.
Keo Mom, CEO of Ly Ly Food Industry Co Ltd, emphasized the impact of electricity costs on attracting investors, noting that lower tariffs enhance Cambodia’s global competitiveness.
Prime Minister Hun Manet emphasized the importance of the electricity sector in economic policy, recognizing it as crucial for driving development across various sectors and improving citizens’ lives.
The government aims for sufficient, sustainable, stable, high-quality, and affordable power supply to foster sustainable economic growth.
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