CHN Energy Investment Group Co. LTD, a state-owned mining and energy company in China, has proposed energy investment focusing on renewable power sources – solar PV and hydropower dams.
In a meeting held on Monday between representatives of CHN Energy and Suon Sophal, Deputy Secretary General of Cambodian Investment Board at the Council for the Development of Cambodia, in Phnom Penh.
The CHN Energy delegation visit was aimed to examine and discuss investment opportunities in renewable energy projects with an investment worth $1 billion in Cambodia, the company said.
The company emphasized that the investment in renewable energy projects includes hydropower construction and solar power projects.
“Cambodia is a strategic location with potential for doing business in the above ecological sector, supporting the most attractive and prominent business operations in the region,” the company said during the meeting.
Sophal lauded the energy investment projects saying that the CDC is ready to support the company.
“Cambodia welcomed the firm’s investment project because they are in line with the regional and international trends that have been taking steps forward to transform energy into green energy,” Sophal said.
Renewable or clean energy used in Cambodia has accounted for more than 62 percent of the country’s total consumption, according to Minister of Mines and Energy Keo Rattanak.
Renewable energy is energy that comes from sources such as hydropower, solar energy and biomass energy.
Cambodia currently is capable of producing energy of about 4,000 megawatts per year, but its annual consumption is about 2,400 megawatts only, so the Kingdom is considering exporting its energy to countries in the region in the future.
He called for foreign investors to consider stepping up in Cambodia for investment in green energy so that they can contribute to energy transition in the country and the region through cross-border energy trading.khmertimeskh
