Prime Minister Hun Manet on Friday approved 23 clean energy investment projects for 2024-2029, which will contribute to increasing Cambodia’s share of clean energy.
Presiding over the Cabinet meeting, Mr Hun Manet gave assent to clean energy investment projects for 2024-2029. The 23 projects include 12 solar projects, 6 wind projects, 1 biomass combined solar project, 1 LNG project, 1 hydropower project and 2 energy storage station projects, according to the Council of Ministers’ statement issued upon the meeting.
Out of the above 23 development projects, there are 21 power station development projects with a total capacity of 3,950 MW and 2 power storage station development projects with a capacity of 2,000 MW.
The investment projects have a total investment capital of $5.7 billion. According to the press statement, the above projects are located in Battambang, Pursat, Kampong Chhnang, Ratanakiri, Mondulkiri, Preah Sihanouk, Kampong Cham and Prey Veng provinces.
The projects will address the problem of lack of electricity sources due to the changing situation of the planned power source project development.
The development of the projects is beneficial to the Kingdom of Cambodia to meet the adequate and timely supply of electricity to the growing demand for electricity to the national grid.
It is expected to provide a reliable and affordable electricity supply to all types of consumers in all parts of the Kingdom of Cambodia, the press release further stated.
“These projects will help strengthen the energy security of the Kingdom of Cambodia’s power supply system by reducing dependence on energy imports and increasing the development of domestic energy sources, increasing the development of clean energy,” read the Council of Ministers’ statement.
Cambodia aims to increase its renewable energy share to at least 70 percent by 2030, contributing to environmental goals and economic growth, with a particular focus on energy efficiency.
“The power investment projects will contribute to increasing the share of clean energy generation capacity to 70 percent by 2030 in the domestic energy sources,” it added.
These will also contribute to achieving Cambodia’s environmental goals and Cambodia’s global commitment to reducing greenhouse gas emissions.
Currently, Cambodia has 62 percent of clean energy in the gross domestic energy sources.
Renewable energy comes from sources such as hydropower, solar energy and biomass energy.
(Source: khmertimeskh)