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Cambodia’s rapid economic growth is creating a surge in energy demand — and a growing recognition that the country’s green energy ambitions will require private-sector participation on a scale that current regulatory frameworks do not yet fully support.
Speaking during the European Tech Business Delegation to Cambodia in June 2026, Emmanuel Lickel-Skiba, Founder & CEO of Polish renewable energy advisory firm Dobry Prąd, outlined how Power Purchase Agreements (PPAs) could serve as the bridge between institutional capital and Cambodia’s clean energy targets [S-106].
Why PPAs matter for Cambodia
A Power Purchase Agreement is a long-term contract under which a buyer agrees to purchase electricity from a specific generator at a pre-agreed price. For Cambodia, well-structured PPAs could unlock several things at once:
- De-risk renewable energy projects by guaranteeing a revenue stream, making them financeable for international lenders
- Attract institutional capital — pension funds, infrastructure funds and development finance institutions that require bankable offtake arrangements
- Give private offtakers price certainty — manufacturers, data centres and large commercial buildings can lock in stable energy costs
“Cambodia represents one of the most dynamic economic landscapes in Southeast Asia, and its forward-looking commitment to integrating sustainable infrastructure into its national growth strategy is highly compelling. As a renewable advisory firm, we recognise that sustaining high GDP growth requires a resilient, cost-effective, and diversified energy matrix.”
— Emmanuel Lickel-Skiba, Dobry Prąd [S-106]
The digital economy connection
A theme that ran through the European delegation’s discussions was the link between digital economy growth and energy infrastructure. Data centres, smart infrastructure and high-tech manufacturing require an absolute guarantee of uninterrupted, 24/7 power.
“A booming digital economy is inherently energy-intensive, as data hubs, smart infrastructure, and high-tech manufacturing require an absolute guarantee of uninterrupted, 24/7 power. We are eager to learn more about how the Ministry of Mines and Energy and Electricité du Cambodge (EDC) plan to balance this surging power demand with the nation’s clean energy targets.” [S-106]
This creates a direct intersection between Cambodia’s digital economy ambitions (European tech investors are actively assessing the market — see our related coverage) and the country’s ability to deliver reliable, competitively-priced green energy.
What needs to happen
Lickel-Skiba identified three priorities for advancing Cambodia’s green energy transition:
- Establishing bankable PPA structures that can satisfy due diligence requirements of international financiers
- Clarifying the regulatory appetite for private-sector participation in the energy matrix
- Demonstrating political will and technical pathways to de-risk green infrastructure
“Ultimately, if we leave Phnom Penh having demonstrated to institutional investors that Cambodia possesses both the political will and the technical pathways to de-risk green infrastructure, it will be an incredibly worthwhile trip.” [S-106]
What this means for property investors
For anyone investing in Cambodian property, the green energy transition matters for three reasons:
- Energy costs affect property values. Industrial and commercial properties in locations with reliable, affordable power command a premium. As global brands tighten ESG requirements — and Cambodia’s industrial parks compete for multinational tenants — access to green energy will become a discriminating factor in tenant demand.
- PPA structures could create new investment products. Corporate PPAs linked to specific industrial parks or developments could eventually offer a new way to underwrite property income streams.
- The role of Polish and European firms in Cambodia’s energy transition signals growing international confidence in the market — a positive signal for foreign investors considering Cambodian exposure.
The Dobry Prąd delegation was part of a broader European Tech Business Delegation to Cambodia organised by EuroCham, underscoring the growing interest from European investors in Cambodia’s digital and sustainable infrastructure sectors.
Sources
[S-106] Cambodia Investment Review — “EuroCham Interview: Emmanuel Lickel-Skiba on How Power Purchase Agreements Could Unlock Cambodia’s Green Energy Investment” (June 13, 2026) https://cambodiainvestmentreview.com/2026/06/13/eurocham-interview-emmanuel-lickel-skiba-on-how-power-purchase-agreements-could-unlock-cambodias-green-energy-investment/