Phase I of the National Solar Park in Cambodia, with a capacity of 60 MW, recently completed construction and connected to the national grid, reaching a record-low price for utility-scale, grid-connected solar PV in Southeast Asia at $0.039 per kWh. The tender was organized in 2019 and awarded to renewable energy projects developer Prime Road Alternative.
The National Solar Park is built upon the partnership betweenthe Asian Development Bank (ADB)and Electricite du Cambodge (EDC), Cambodia''s national power utility. It is regarded as a convincing example demonstrating the potential to develop cost-effective large-scale solar PV in Cambodia by uniting the public and private sectors.
ADB has contributed to Cambodia''s electrification and clean energy transition for many years. It was an early power in helping Cambodia increase its household electricity access from 17% in 2008 to almost 90% in 2021 while also helping reduce electricity costs nationwide, according to Keo Rottanak, a management member at EDC.
With ADB''s continued support, Cambodia has established the necessary conditions for a cleaner and more sustainable energy transition. The country recently approved the Power Development Masterplan (2021–2040), covering an inspiring goal of increasing solar PV capacity to 1,000 MW by 2030 and 3,000 MW by 2040.
Commenting on the National Solar Park project, Asakawa added: "ADB is pleased to have supported the establishment of the National Solar Park, which is a landmark project not only for Cambodia but for all of Southeast Asia."
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ADB President Masatsugu Asakawa marks the milestone of the partnership between ADB and Electricite du Cambodge with a visit to the National Solar Park on 11 November.
PHNOM PENH, CAMBODIA (15 November 2022) — A partnership between the Asian Development Bank (ADB) and Electricite du Cambodge (EDC), Cambodia’s national power utility, to develop a 100-megawatt (MW) National Solar Park reached a milestone with the park’s first 60 MW solar photovoltaic (PV) power generation plant connecting to the national grid. ADB President Masatsugu Asakawa marked the occasion with a visit to the solar park on 11 November, during which he initiated the start of power delivery.
“Solar generation will need to be a key part of Cambodia’s efforts to expand access to affordable power while also transitioning to cleaner energy,” said Mr. Asakawa. “ADB is pleased to have supported the establishment of the National Solar Park, which is a landmark project not only for Cambodia but for all of Southeast Asia.”
The National Solar Park Project has demonstrated the potential to develop large-scale solar PV in a cost-effective manner in Cambodia by mobilizing both public and private resources. Under the project, an international competitive tender was organized to bid out power generation units to the private sector in two phases of 60 MW and 40 MW.
ADB provided end-to-end support for the project. This included delivering transmission interconnection infrastructure, roads, and drainage systems; transaction advisory support and advice to EDC on the private investment component of the project, including the selection of a private sector sponsor; and structuring and mobilization of private sector financing for the construction of the 60 MW power generation plant.
Phase I of the tender, for the first 60 MW, was organized in 2019 and awarded to the firm Prime Road Alternative. The process resulted in a record-low price for utility-scale, grid-connected solar PV in Southeast Asia, at $0.039 per kilowatt-hours (kWh). The remaining 40 MW was tendered in 2020 and awarded to Trina Solar Co. Ltd. This led to another record low procurement price for the region at $0.026 per kWh.
With ADB’s continued support, including a transaction advisory services mandate with EDC to help develop 2 GW of solar power, Cambodia is set to create the necessary conditions for a cleaner and more sustainable energy transition. Under the reference scenario in Cambodia’s recently approved Power Development Masterplan (2021–2040), which was developed with technical assistance from ADB, the share of solar PV in the country is expected to reach 1,000 MW by 2030 and exceed 3,000 MW by 2040.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.
The Asian Development Bank (ADB) is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. It assists its members and partners by providing loans, technical assistance, grants, and equity investments to promote social and economic development.
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On January 26, 2018, the EAC issued a set of regulations to clarify the general conditions for installing and operating solar photovoltaic (PV) systems in Cambodia. Kohe Hasan, partner at Reed Smith and director of Resource Law LLC (Singapore), and Kaknika Lin, assistant consultant at KPMG Cambodia Ltd provide a summary of the key regulations, in addition to discussing the country''s investment climate.
With approximately 5.8 hours of peak sunlight a day, Cambodia possesses one of the best solar resources in the world. Together with high electricity rates, unreliable sources of power, and skyrocketing demand for electricity, Cambodia is a very attractive market for investors in the energy sector.
The successful completion last year of Cambodia''s first utility-scale solar power project in Bavey City in Svay Rieng Province, which was backed by the Asian Development Bank (ADB), provides further investment impetus.
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