The Korea Energy Agency (KEA) announced that it will invest $8 million USD in a project aimed at supplying electric bikes and building solar charging stations in Cambodia.
KEA has been conducting a pilot project in Phnom Penh and Siem Reap since October 2019 reports the Khmer Times. They added that the “electric bike supply project is designed to export photovoltaic (PV) systems, charging stations and electric bikes in a package.”
The Korea Energy Agency was established in 1980 and is a government agency carrying out national energy policies for energy efficiency improvement and renewable energy dissemination.
Electric bikes in Cambodia
The Korea Energy Agency set up a 5-kW PV system and a charging station with three electric bikes near the Phnom Penh Government Office. In addition, three 2.5-kW PV facilities and one charging station with three electric bikes are setup near Angkor Wat in Siem Reap.
The KEA hoped to increase the number of Korean-type solar bikes in Cambodia to 1,000 units followed by expanding to 30 charging stations and 4,000 electric motorcycles in the future.
SK Securities and Verywords also signed an MOU on business cooperation with the KEA to finance the expansion of the project in Cambodia. The Agency hopes to use Cambodia as a base before expanding the electric bikes into Vietnam, Indonesia, China and India.
The Global Market Insight says the global electric bike market is expected to grow 5 per cent annually by 2024.
Voltra Motors is another manufacturer of the first Cambodia-made electric motorbike which has already started offering its services in the Kingdom, starting in September 2019.
Green e-Bike, is the first electric bike rental business in Cambodia, starting in Siem Reap in 2014.
Renewable Energy in Cambodia
The increased number of vehicles on the roads in Cambodia is a concern as well as the rising CO2 emissions. Electric bikes and finding renewable solutions through electric bikes would benefit the country.
The Cambodian government reports the number of newly registered vehicles in Cambodia in 2019 at 640,183:
- 15,956 heavy vehicles
- 92,958 cars
- 531,269 motorbikes
Between 1990 to 2019, more than 5 million vehicles were registered in the Kingdom of Cambodia, increasing by more than 300,000 – 400,000 vehicles year-on-year while motorbikes contribute 40%.
Cambodia has also increased its solar energy output. In 2019, the Royal Cambodian government gave the approval for the construction of 4 solar power plants to generate a total of 140 mW to the national grid, and three of those are online by April 2020.
The Electricity Authority of Cambodia (EDC), said the Cambodian government was planning to increase investments in solar energy investment by 12% in 2019, and by 20% until 2022.