PHNOM PENH: Keo Rottanak, Cambodia’s Minister of Mines and Energy, outlined the country’s ambitious plans to transition to a greener economy in a recent interview with CNBC International News at the Singapore International Energy Week (SIEW). The minister announced that Cambodia aims to achieve 70% dependence on renewable energy sources by 2030.
This goal was announced by Cambodia’s Energy Minister, who also emphasized the importance of a more inclusive approach that involves young people and women in the planning and implementation of this transition.
The minister additional highlighted the role of the 900-megawatt LNG project in Koh Kong, which is replacing a previously planned coal power plant. This project is seen as a crucial step towards achieving net zero emissions by 2050.
The minister explained that while wind and solar energy are intermittent, LNG will play a vital role in ensuring a stable power supply during peak demand periods.
In addition to the domestic focus on renewable energy, Cambodia is also actively working towards establishing an ASEAN power grid. The minister expressed optimism about the progress made in this regard, with Singapore, Cambodia, and Laos forming a working group to facilitate cross-border electricity trade. The minister believes that regional cooperation is essential for achieving the shared goal of net zero emissions in a more efficient and cost-effective manner.
The World Bank and ADB estimate that the ASEAN power grid could save the region up to $800 billion. Cambodia’s commitment to renewable energy and regional cooperation demonstrates its leadership in the transition to a green economy.