Cambodia: Five Actions to Improve the Business Climate for Renewable Energy Investment
Vakulchuk, Roman; Chan, Hoy-Yen; Kresnawan, Muhammad Rizki; Merdekawati, Monika; Øverland, Indra; Sagbakken, Haakon Fossum; Suryadi, Beni; Utama, Nuki Agya; Yurnaidi, Zulfikar
Original version
DOI: 10.13140/RG.2.2.25320.70403Abstract
Cambodia has not attracted significant investment in renewable energy until mid-2020 and, unlike other ASEAN countries, has not set exact renewable energy targets. Despite this, the country is viewed as a model to learn from for other ASEAN countries implementing solar power auctions. In order to keep up this momentum and attract more investment, Cambodia needs to address a number of persistent gaps in its investment climate. We propose five actions that may have strong immediate benefits and make Cambodia’s business climate for renewable energy more attractive: prioritise renewables in the energy governance system; request support from IRENA for capacity building; adopt targets and develop a regulatory framework; enhance project bankability; improve market entry for foreign investors.