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The topic was discussed during a recent meeting between Rottanak and ADB country director Yasmin Siddiqi.
“Cambodia already generates more than 63 per cent of its energy from renewable sources,” he said. “We want to use this as a credit for garment factories exporting goods abroad. This certification could help build foreign customers’ trust and make our products more competitive.”
ADB will work with the ministry, national utility company Electricite du Cambodge (EDC) and other producers to develop certification procedures, he added.
The two spoke of the effects of external pressures on the country’s energy sector, expanding domestic financing for renewable energy, infrastructure development and efforts to build a more resilient and reliable energy system, according to domestic media outlets.
The discussion also included waste-to-energy initiatives aimed at reducing urban waste, and strengthening environmental protection.
Cambodia is encouraging local banks to finance renewable energy projects, Rottanak added.
In November 2022, ADB signed a transaction advisory services mandate with EDC to support the development of 2 gigawatts of solar power in Cambodia. The mandate will help the country achieve its goal of carbon neutrality by 2050.
Fibre2Fashion News Desk (DS)
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