Cambodia steps up renewable energy push
Cambodia steps up renewable energy push
Cambodia is accelerating its transition to renewable energy to meet the growing energy demand and combat climate change, making clean energy a good investment option as well.
Clean energy now accounts for more than 62 percent of Cambodia’s total energy consumption and the Kingdom continues to push for larger shares of clean energy in the grids, said Keo Rattanak, Minister of Mines and Energy.
“Cambodia is producing energy from several renewable energy sources. But we have to develop more clean energy sources to support a sustainable energy future for Cambodia,” Rattanak said in a message on the ministry’s social media.
Clean energy is also attracting new investment to the country, he said, giving the example of a recent move of MinebeaMitsumi, a Japanese precision components manufacturer that decided to expand its manufacturing line in Cambodia.
This push aligns with Cambodia’s Power Development Plan (PDP) 2022-2040, which prioritizes expanding renewable energy sources.
Cambodia’s push for renewables is driven by several factors. The country’s energy demand is rapidly increasing due to fast economic growth and urbanization. Additionally, the rising cost of imported fossil fuels necessitates exploring alternative solutions.
Moreover, Cambodia is increasingly vulnerable to the impacts of climate change, making a transition to clean energy sources even more crucial.
Prime Minister Hun Manet said recently that pushing energy development from renewable sources is a priority for the government.
“From now to 2030, we have to increase investment on renewable energy sources – solar, wind turbine, and hydro to stabilize energy consumption, ensuring that electricity tariffs for households and manufacturing sectors do not rise,” the Prime Minister said during a get-together ceremony with SMEs, last Thursday.
Cambodia currently is capable of producing about 4,000MWs of energy annually, but its yearly consumption is about 2,400MW only. So, the Kingdom is considering exporting its energy to other countries in the region in the future, according to the ministry.
As of last year, 98.27 percent of the total 14,168 villages in Cambodia have access to electricity, according to the ministry.
