PV MAGAZINE - The Asian Development Bank will provide Singapore-based Sunseap Group with $9.2 million. The company will use the funds to construct Cambodia’s first large-scale PV plant, a 10 MW facility located in Svay Rieng Province.
The Asian Development Bank has agreed to lend €9.2 to Singapore-based Sunseap Group for the building of a 10 MW solar facility in Cambodia.
The financing package, which was provided by ADB’s Private Sector Operations Department (PSOD), includes co-financing from a private sector financial institution through ADB’s B Loan program and a concessional loan from the Canadian Climate Fund for the Private Sector in Asia (CFPS).
The project, which will be Cambodia’s first large-scale PV power plant, will be located close to Bavet, a special economic zone in the Svay Rieng province, near the border with Vietnam. Sunseap’s local unit Sunseap (Asset) Cambodia Co. Ltd has already secured a 20-year PPA for the project from local state-owned utility Electricité Du Cambodge (EDC). A consortium led by the Singapore-based company was selected to build the plant last year through a tender. The project, ADB said, is expected to come online in August 2017.