The Asian Development Bank (ADB) has agreed to lend €9.2 to Sunseap Group, Singapore, for the building of a 10 MW solar facility in Cambodia. The financing package, which was provided by ADB’s Private Sector Operations Department (PSOD), includes co-financing from a private sector financial institution through ADB’s B Loan program and a concessional loan from the Canadian Climate Fund for the Private Sector in Asia (CFPS).
The project, which will be Cambodia’s first large-scale PV power plant, will be located in a special economic zone in the Svay Rieng province, near the Viet Nam border. Sunseap’s local unit Sunseap (Asset) Cambodia Co. Ltd., has already secured a 20-year PPA for the project from local state-owned utility Electricité Du Cambodge (EDC). A consortium led by the Singapore-based company was selected to build the plant last year through a tender.
According to ADB, the project is expected to come online in August 2017. Cambodia has seen a very limited development of solar energy to date. The United Nations Development Programme (UNDP) in Cambodia is currently seeking consultants for De-risking Renewable Energy Investment (DREI) analysis and report for Solar PV in the country. According to UNDP, several issues remain barriers in up-scaling solar technologies in the country.
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