PHNOM PENH, Cambodia, April 7, 2023 /PRNewswire/ -- Cambodia is leading the transition to clean energy in Southeast Asia, and growth is strong. Following the submission of the country's long-term strategy for carbon neutrality to the United Nations, the Royal Government of National Unity presented the Power Development Master Plan (PDP) and the National Energy Efficiency Policy (NEEP) to the public. These initiatives demonstrate the government's strong commitment to the energy transition and define the country's first long-term energy plan in achieving a coordinated and strategic energy direction.

"By adopting best practices, we can reduce greenhouse gas emissions, create new jobs and position their Cambodia as a leader in the region," said Prime Minister Hun Sen." Investing in energy efficiency and renewable energy aims to be key to building a more sustainable future for our people and our planet."

Energy efficiency is a key aspect of Cambodia's clean energy transition, with the government committed to reducing energy consumption by 19% by 2030. The National Energy Efficiency Policy sets out strategic directions, priority areas and sectoral targets, with Suy Sem, Minister of Mines and Energy, noting that "to fully exploit the potential of energy efficiency, it is imperative that we develop a strong policy and regulatory framework, build stakeholder capacity, raise awareness of the benefits and support private sector investment."

In addition, Cambodia is currently working with Singapore to become a major exporter of clean energy to the region. The agreement is still in the commercial negotiation stage. Under the agreement, Singapore would import 1 GW of renewable energy from Cambodia annually, which would account for a quarter of its low-carbon electricity imports by 2035. The potential exports agreed to Singapore will help Cambodia make a positive impact on the world, cementing its position as a leader in the region's clean energy sector while mitigating the impact of climate change on the planet.

"By prioritising renewable energy, Cambodia is creating a competitive economic advantage while mitigating the effects of climate change and promoting sustainable development," said Environment Minister Say Sam Al." Investment in energy efficiency and clean energy technologies creates new economic opportunities and improves the well-being of our citizens. Cambodia is firmly committed to a more resilient, inclusive and sustainable development path. This will inspire other countries to join us in our joint efforts to build a cleaner, healthier and more prosperous future."

As Cambodia continues to move towards an inclusive and competitive economy, the Power Development Master Plan (PDP) and the National Energy Efficiency Policy (NEEP) will ensure that electricity prices remain stable and at affordable levels. This will help Cambodia to achieve its development goals across all sectors and position it as a key player in energy efficiency and renewable energy in the region.

Bold and visionary leadership in the transition to clean and green energy is essential to ensure a sustainable and prosperous future for all. Cambodia's commitment to sustainable energy and energy efficiency will not only create economic opportunities, promote public health and improve the overall well-being of its citizens, but will also give the country a competitive advantage in the regional market. With ambitious targets and continued investment in sustainable technologies, Cambodia's positive impact on the world will benefit future generations.