Phnom Penh (FN), Sep. 27 – The Cambodian Council of Ministers approved 23 new investment projects in the power sector for the period 2024-2029, aimed at addressing the country’s ongoing power shortages.
The approval was made during a weekly cabinet meeting chaired by Cambodian Prime Minister Hun Manet on Friday (Sep. 27) at the Peace Palace.
The 23 approved energy development projects include 12 solar power projects, 6 wind power projects, 1 combined solar-biomass project, 1 gas-fired (LNG) power plant, 1 hydropower project, and 2 energy storage facilities. Of these, 21 are power station projects with a combined capacity of 3,950 MW, and 2 are large-scale storage projects with a capacity of 2,000 MW.
The total investment for these projects is estimated at USD5.79 billion. These projects will play a crucial role in meeting Cambodia’s growing electricity demand. They will ensure reliable and affordable power supply to consumers across the country, contributing to the stability of the national grid.
These projects will enhance Cambodia’s energy security by reducing reliance on imports and boosting domestic clean energy sources like solar, wind, hydropower, and biomass. They align with the Kingdom’s goal of achieving 70% clean energy by 2030, while contributing to Cambodia’s environmental goals and global greenhouse gas reduction commitments. The projects will create tens of thousands of jobs, particularly in Battambang, Pursat, Kampong Chhnang, Ratanakkiri, Mondulkiri, Sihanoukville, Kampong Cham, and Prey Veng, providing on-site training and modern skills development for Cambodian workers.
The state will benefit from tax revenues generated by all 23 investment projects, including income tax, pre-allocation tax, withholding tax, and taxes on dividend distribution during the operation phase.
=FRESH NEWS
