Total Eren, a leading renewable independent power producer based in Paris, has announced its entry into the Cambodian renewable energy market with the acquisition of Battambang, a 73.9 MWp photovoltaic (PV) project from Risen Energy, a Chinese developer focused on R&D and PV panel production. The PV farm is currently operational in Battambang Province, which is located in northwest Cambodia. The project was conceived, built, financed, and commissioned in March 2021 by Risen Energy. For the following two years, the firm will be responsible for the PV farm’s maintenance.
According to a company statement, the Battambang solar farm generates roughly 115 GWh per year, enough to meet the needs of about 180,000 Cambodians while also decreasing carbon emissions by over 50,000 tonnes each year. It is one of the country’s largest solar farms, as well as the largest in the Battambang region. The produced electricity was contracted in a 20-year power purchase deal with Cambodge’s national utility, Electricité du Cambodge, which was signed in August 2019. Battambang was financed by a $45 million loan from DEG, a German Development Finance Institution connected with KfW, the German Development Bank, which was signed in September 2020.
This project is part of a broader programme launched by Cambodia under the “Basic Energy Plan” announced in 2019, which sets a target of renewable energy sources generating 10 per cent of the Kingdom’s electricity mix by 2030. Total Eren is also active in South Asia, particularly in India, where it owns 657 MWp of solar power in operation or under construction through its JV, Eden Renewable India.
REGlobal’s Views: South East Asian countries like Cambodia are witnessing increasing solar power deployments as the region moves ahead in its plan to decarbonise its energy mix. Recent months have also seen an increase in deal activity as large global players acquire assets in these emerging markets to expand their portfolios.