ADB provides $9.2mn in loan for solar farm in Cambodia The Asia Development Bank (ADB) announced yesterday that it will provide a $9.2mn loan to Singapore-based energy provider Sunseap Group that plans to build a large-scale solar farm in Bavet. In its press release, the ADB said the loan would take the form of a debt financing package that was co-financed by an unnamed private sector institution. It added that part of the funds came from a concessional loan from the Canadian Climate Fund for the Private Sector in Asia (CFPS). Stephen Higgins, managing partner at Mekong Strategic Partners, said the ADB’s financial support was likely an important factor to make this type of solar project viable in Cambodia. Sunseap International, the company’s international branch, announced last August that it had signed a 20-year power-purchase agreement with state-electricity provider Electricite Du Cambodge (EDC) for its $12.5mn, 10-megawatt facility that is expected to be operational next August. (Source: Phnom Penh Post)

Economy & Industry

26th April 2017

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