PHNOM PENH, May 26, 2016 — Businesses, financial institutions and governmental organizations from Cambodia’s clean energy sector met today to accelerate clean energy investment and share knowledge about Cambodia’s emerging industry trends in clean energy.

With support from the U.S. Agency for International Development (USAID), the Private Financing Advisory Network for Asia (PFAN-Asia) and Sevea brought together over 80 government officials, private sector representatives, international organizations and non-government organizations representatives in Cambodia to explore ways to promote clean energy investment and network among industry peers.

“The U.S. Government is pleased to be able to provide assistance to entrepreneurs and investors here in Cambodia. Through USAID PFAN-Asia program, we seek to close the clean energy financing gap by acting as an honest broker for project developers and investors alike,” said Sithisakdi Apichatthanapath, Program Development Specialist at the USAID Regional Development Mission for Asia. “We hope greater investments in clean energy will benefit Cambodia’s growing economy.”

Lower Mekong countries’ power development plans have traditionally been based conventional energy generation, without fully considering the potential of renewable energy and energy efficiency.  

“Increased investment opportunities in clean energy such as solar power, could secure the power supply and partially contribute to achieving energy development target of the Royal Government of Cambodia on the one hand and reduce the dependence on import, hydropower projects, and coal-fired plants on the other hand,” said Hak Mao, Deputy Director of the Department of Science and Technology of the General Secretariat of the National Council for Sustainable Development, Ministry of Environment. “Cambodia has great potential in the region for renewable energy sources, including wind, solar, and biomass.”

Renewable energy and energy efficiency can provide reliable energy access, strengthen energy security, improve air quality and reduce health costs. Clean energy can also boost economic growth, reduce transnational conflict, promote food security and biodiversity and potentially reduce direct energy costs.