Spanish firms mull expanding investment in Cambodia

Spanish firms mull expanding investment in Cambodia

Acciona Energía, an energy development industry based in Madrid, is planning to set up wind power generation projects in the Kingdom, while Insud Pharma, a pharmaceutical manufacturing factory, intends to expand operations across Southeast Asia countries.

Sun Chanthol, Deputy Prime Minister and First Vice-Chairman of the Council for the Development of Cambodia (CDC), visited Insud Pharma centre in Madrid City on Tuesday.

The Deputy Prime Minister is leading a delegation to the European Union (EU) on an invitation by Lucas Signman, Chief Executive Officer of Insud Pharma.

Chanthol was accompanied by Hun Lak, Secretary General of the Cambodian Oknha Association (COA) and Suon Sophal, Deputy Secretary General of the Cambodian Investment Board of CDC.

During the discussion between the CDC delegation and the Insud Pharma working group, the firm revealed its plans to expand investment in Southeast Asia countries which also included the Kingdom, adding up to the 40 countries that they have already been operating.

Insud Pharma specialised in the research, development and production of high-quality drugs, especially for general diseases, cancer and biotechnology, driving innovation to improve patient health worldwide.

Later in the day, Chanthol also visited Acciona Energía headquarters. Among those who accompanied him include Kuon Thida, President of Orienda International Hospital, Leang Pov, President of Khmer Beverages, Lim Socheat, Vice President of Cambodia Chamber of Commerce and Chan Phaloeun, Under Secretary of State of the Ministry of Agriculture, Forestry and Fisheries (MAFF).

During the meeting, the Acciona Energía team informed the delegation about the mission to invest in the renewable energy sector, particularly in developing and managing sustainable energy solutions. The firm has successfully operated many giant power plants in 40 countries, employing over 58,000 workers.

Based on Acciona Energía local activity, the firm plans to expand three projects in Cambodia including the Kouprey wind power project in Mondulkiri from 100megawatts (MW) to 150MW, the SeaBreeze project in Kampot to 80 MW and Preah Sihanouk provinces to 170MW.

According to Acciona Infrastructure presentation, the company also specialised in the construction of railroads, bridges and industries, the concessions of transportation and telecommunication, the provider of services for cities focusing on circular economy and environmental services, and also the water treatment expert.

Acciona Energía is among the largest firms generating clean energy in Spain which fully operational for over 30 years on technology development and energy management.

The company already owned several projects across Cambodia’s provinces but after the discussion with CDC, they intended to inject more investments to build wind power plants in the Kingdom for mutual benefits.

CDC sources told Khmer Times that the Deputy Prime Minister and the CDC delegation have already left Spain and today he should be leading the delegation to hold discussions with German investors in Nuremberg City.

Dean Rizzetti, Policy Director of EnergyLab, said that wind energy could play a really important role in Cambodia and while the country’s primary renewable energy opportunity is in solar power, it’s important to develop other sources of power that aren’t reliant on the sun.

“Wind power fits this need and could provide an important source of power at night and other times of day while creating jobs and driving new investment into rural areas.”

The key to successfully unlocking a high proportion of renewable energy is to have a range of technologies all work together – solar, pumped hydro, batteries and wind, he added.

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