Korea Water Resources Corporation Set To Develop Renewable Energy Projects in Cambodia
Korea Water Resources Corporation (K-water) are set to invest in developing large-scale renewable energy projects in Cambodia after they signed an MoU with the Cambodian Ministry of Water Resources and Meteorology. The Korean company has had a presence in Cambodia since 1999, working on various projects along the Mekong Delta and in provinces.
According to The Korea Post, the Korea Water Resources Corporation (K-water) have secured the rights to develop large-scale renewable energy projects in Cambodia following the signing of a Memorandum of Understanding (MOU) on November 21 2024 with Cambodia's Ministry of Water Resources and Meteorology in Phnom Penh to mutually cooperate on renewable energy development.
The pair have been in discussion since May 2024, to explore ways to implement cooperation in the fields of water, energy, and urban development. This followed a meeting between Cambodian Prime Minister Hun Manet and President Yoon Suk Yeol after they to a bilateral strategic partnership during Manet’s four-day state visit to Korea.
K-water CEO Yun Seogdae said at the time, “As Korea and Cambodia established a strategic partnership, we are pleased to have this opportunity to further expand our cooperation in water resources, energy and urban [management] sectors."
The collaboration will include working on projects such as the “development of renewable energy clusters at irrigation dams, joint research on greenhouse gas reduction, exchange of personnel and technology, and international carbon credit transfer cooperation.” initially, it had been touted the Korean company would look at establishing a nationwide water management masterplan for Cambodia and a smart water management system in Phnom Penh.
The report added that K-water has already laid the groundwork for installing energy facilities such as small hydropower and floating solar power at 16 irrigation dams. K-water added that they will “lay the foundation for public-private partnership projects by promoting various follow-up initiatives and will strengthen cooperation with Cambodia by utilizing the corporation’s water and energy management capabilities.”