In an exciting development for Cambodia's energy landscape, Ripple Inc., a well-known US-based fintech company, is looking to partner in the renewable energy sector. The company, known for its innovative financial solutions, has expressed strong interest in establishing solar panel manufacturing in Cambodia to meet the growing demand for clean energy in the United States.
This significant announcement was recently made at a meeting between Mr. Chris Larsen, the CEO and co-founder of Ripple, and Cambodian Prime Minister Samdech Hun Sen on December 30, 2024. During their discussions, Larsen highlighted the company's ambitions to invest in renewable energy initiatives in Cambodia, with a focus on producing solar panels for export to the US market.
Prime Minister Hun Sen warmly welcomed Ripple's intentions and recognized the alignment between the company's goals and the royal government's strategic focus on sustainable energy. He noted that this investment could spark deeper collaboration between companies in Cambodia and the United States and promote better connections within the private sector.
The Prime Minister also encouraged Ripple to continue working with relevant ministries and institutions in Cambodia to ensure the successful implementation of the proposed project. This initiative comes against the backdrop of Cambodia's commitment to renewable energy. The Royal Government has set ambitious targets to achieve carbon neutrality by 2050 and increase the use of renewable energy to 70% by 2030. The country aims to source up to 62% of its energy from renewable energy sources.
As the world shifts toward sustainable energy solutions, Cambodia's collaboration with U.S. tech companies like Ripple represents a promising step forward toward a greener future. This partnership could strengthen the local economy and position Cambodia as a major global renewable energy market player.
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