Phnom Penh – Canadia Bank, one of Cambodia’s largest commercial banks and the country’s largest locally owned bank, has joined six partner financial institutions in a US$182 million syndicated financing facility extended to SchneiTec Legacy Co., Ltd., a subsidiary of SchneiTec, one of Cambodia’s leading renewable energy developers. The financing will support the development of Cambodia’s first and largest Battery Energy Storage System (BESS) power station in Pursat and Kampong Chhnang provinces, a landmark project that will enhance grid reliability while enabling greater integration of renewable energy into the country’s power system.
Bank of China (Hong Kong) Limited Phnom Penh Branch serves as the Mandated Lead Arranger for the transaction, with Canadia Bank participating alongside other financial institutions. The financing demonstrates strong collaboration among partner commercial banks to mobilize capital for critical infrastructure that supports Cambodia’s long-term economic development and sustainability goals.
The BESS power station is a priority national energy infrastructure project designed to strengthen the stability and reliability of Cambodia’s power grid. By storing excess electricity generated from renewable sources, particularly solar power, and delivering it during periods of peak demand, the facility will help maximize the use of clean energy, reduce pressure on the grid, and support the Royal Government of Cambodia’s energy transition and energy security objectives.
Mr. Dominic Notario, Chief Executive Officer of Canadia Bank, said: “This co-financing reflects Canadia Bank’s commitment to supporting transformative infrastructure projects that advance Cambodia’s energy transition. As the country expands its renewable energy capacity, battery storage will play a critical role in enhancing grid reliability and ensuring clean energy can be used when demand is highest. Backed by our strong corporate banking capabilities and commitment to long-term partnerships, we are honored to support this landmark project and reinforce our role as a trusted financing partner for large-scale infrastructure development in Cambodia.”
Canadia Bank management team with Dr. Heng Socheat, Founder & CEO, SchneiTec Group (center)
