Phnom Penh:ABA Bank has become the largest single lender in a $182 million green syndicated loan facility aimed at financing Cambodia's first utility-scale Battery Energy Storage System (BESS). The initiative is set to bolster the country's economic development, energy security, and sustainability objectives.
According to ABA Bank, the signing ceremony for this significant financial agreement was attended by H.E. Dr. Chea Serey, Governor of the National Bank of Cambodia, along with representatives from ABA Bank and other financial institutions involved. The loan is supported by seven lending institutions and is jointly led by the Bank of China (Hong Kong) Phnom Penh Branch and Bank of China (Hong Kong), with participation from ABA Bank and four other partner banks.
The project, developed by SchneiTec Legacy, part of SchneiTec Group, will establish battery storage facilities with a combined capacity of 1,000 megawatt-hours in the provinces of Pursat and Kampong Chhnang. These facilities are expected to enhance the national electricity grid, facilitate the integration of renewable energy, and improve Cambodia's long-term energy security once operational.
Zhiger Atchabarov, Executive Vice President, Deputy CEO, and Chief Operating Officer of ABA Bank, expressed pride in supporting this landmark infrastructure project, emphasizing the bank's commitment to national infrastructure and creating long-term value for the country and its communities. Dr. Heng Socheat, CEO of SchneiTec Group, highlighted the transformative nature of the financing for both SchneiTec and Cambodia's energy future, noting the confidence shown by banking partners in the country's economic resilience and energy transition.
The project underscores ABA Bank’s capacity to support large-scale national development initiatives through structured financing and high-value corporate loans across vital sectors such as energy, agriculture, and infrastructure.