PHNOM PENH, Oct. 7 (Xinhua) -- The Asian Development Bank (ADB) has approved the second phase of Cambodia's Energy Transition Sector Development Program (ETSDP) for 82.5 million U.S. dollars, said its press release on Tuesday.
The program aims to provide comprehensive support for the country's clean energy transition by combining policy reforms with investment projects in new technologies, the press release said.
The first subprogram, approved in 2022, introduced pivotal policy measures that guided the energy sector toward a more efficient and renewable development pathway, it said, adding that building on this foundation, subprogram 2 advances regulatory reforms to strengthen the energy efficiency framework and enhance policy clarity to attract private sector investment.
A key milestone under the subprogram is the introduction of the country's first set of regulations establishing Minimum Energy Performance Standards for electrical appliances, starting with air conditioners, which account for the largest share of energy consumption in the residential sector.
Subprogram 2 will also establish an Energy Efficiency Revolving Fund aimed at facilitating access to finance for local small and medium-sized enterprises to invest in energy-efficient technologies.
"The Energy Transition Sector Development Program will support turning the government's ambitious vision into reality," said ADB acting country director for Cambodia Anthony Gill.
"This includes the goal of achieving 70 percent renewable energy in the power mix by 2030, along with a strong commitment to advancing energy efficiency, which is essential to ensure that Cambodia's growth remains both sustainable and affordable," he added.
Subprogram 2 will be followed by a third phase in 2027, which will further deepen reforms by expanding the energy efficiency regulatory framework and introducing technical standards for renewable energy, buildings, and industry to further attract private sector investment, the press release said. ■
