Total Eren buys 74-MWp solar farm in Cambodia from Risen Energy
- Paris-based independent power producer Total Eren has acquired a 73.9-MWp solar PV farm in Cambodia to go into the renewable resource market in the country.
Total Eren said on Thursday that it has purchased the plant's project company from Chinese solar innovation maker Risen Energy Co Ltd (SHE:300118), which developed, constructed, funded as well as commissioned the solar farm in March 2021.
Financial details of the acquisition were not divulged.
The solar farm is called Battambang and lies in the namesake district in north-west Cambodia. Battambang's result, which is estimated at concerning 115 GWh annually, was acquired in August 2019 by nationwide utility Electricite de Cambodge under a 20-year power acquisition agreement (PPA), Total Eren said.
The Battambang project was funded through a USD-45-million (EUR 38.9 m) finance prolonged by German Development Money Establishment DEG, part of the KfW team. It is likewise the initial solar project that Risen Energy finished in Cambodia.
Risen Energy will remain with the solar farm to carry out upkeep solutions for the following two years.
Total Eren stated that it sees solid potential in the Cambodian renewable energy market as it aims to pursue its development in Asia Pacific.
"Looking in advance, we look forward to establishing a larger portfolio of renewable energy projects in the nation," added Fabienne Demol, Executive Vice President - Global Head of Business Development of Total Eren.
