ADB gets behind solar project
The Asian Development Bank has financially backed Singapore’s Sunseap Group’s project to build Cambodia’s first large-scale solar power project under a long-term agreement with the state-run energy utility Electricite Du Cambodge. ADB’s private sector operations department will provide Sunseap Asset (Cambodia) with a debt financing package of $9.2 million. The package includes co-financing from a private sector financial institution and a concessional loan from the Canadian Climate Fund for the Private Sector in Asia. The project is located near Bavet, a special economic zone in the Svay Rieng province, and is being implemented through a public-private partnership.