Cambodia Renewable Energy Certificate Market to Reach $7.01 Million by 2032, Driven by Clean Energy Policies & Corporate Sustainability

Leander, Texas, United States - Nov.20.2025
As per DataM intelligence research report"The Cambodia renewable energy certificate Market reached US$ 5.62 million in 2024 and is expected to reach US$ 7.01 million by 2032, growing with a CAGR of 2.6% during the forecast period 2025-2032.". Government incentives and renewable energy initiatives are promoting adoption of energy certificates in Cambodia.

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Cambodia: Recent Renewable Energy Certificate Developments

✅ In November 2025, Cambodia's Ministry of Mines and Energy (MME) confirmed that export-oriented factories will be prioritized for buying RECs issued by Electricité du Cambodge (EDC), to help them meet global sustainability standards. This move supports manufacturers in aligning with EU and U.S. environmental requirements and strengthens Cambodia's position in green supply chains.

✅ In October 2025, Cambodia launched a formal REC scheme via a "Prakas No. 0039" regulation that defines the roles of MME, EDC, and the Electricity Authority of Cambodia (EAC), including how RECs are issued, audited, and priced. This regulatory clarity provides a transparent mechanism for companies to claim clean electricity usage.

✅ In September 2025, I-TRACK (the I-REC standard body) announced a temporary suspension of I-REC(E) issuance for Cambodian facilities, citing risks of future "double-counting" once the national REC system becomes fully operational. The pause is meant to preserve market integrity as Cambodia transitions to a domestic REC framework.

✅ In August 2025, market analysts projected that Cambodia's REC market - covering I-RECs and other certificate types could grow at a compound annual rate of ~2.6% through 2032, driven by solar, hydro, and biomass generation. This signals increasing investment potential in RECs as part of Cambodia's clean energy transition.

✅ In June 2025, I-TRACK reiterated that the pause on I-REC(E) issuance in Cambodia would remain until authorities provide more clarity; meanwhile, government stakeholders are exploring a trading-platform model for future REC exchange. Analysts see this as a step toward a more mature, transparent REC market.

Cambodia Renewable Energy Certificate Market: Drivers

The Cambodia Renewable Energy Certificate (REC) market is witnessing growth as the country advances toward clean energy adoption and regulatory frameworks for renewable electricity trading. RECs serve as proof that a specific amount of electricity is generated from renewable sources, including solar, wind, biomass, and hydropower, and can be traded or retired to meet sustainability targets. Rising government initiatives to promote renewable energy, combined with policies incentivizing low-carbon electricity consumption, are driving adoption among utilities, industries, and export-oriented factories. The system ensures transparency by tracking generation source, ownership, and validity, thereby supporting compliance with international sustainability standards. Additionally, temporary suspension of I-REC(E) issuance has highlighted the importance of a robust national REC framework, further encouraging market formalization.

Technological advancements in grid integration, metering, and auditing processes are improving the efficiency and credibility of Cambodia's REC system. Collaborations between the Electricity Authority of Cambodia, Electricité du Cambodge (EDC), and private renewable energy developers are fostering adoption and innovation. Increasing demand from multinational companies and export factories to align with low-carbon value chains is accelerating market growth. Supportive policies, international best practices, and audit mechanisms are enhancing transparency and trust in the system. With government backing, rising renewable energy capacity, and focus on sustainable electricity consumption, the Cambodia REC market is poised for steady expansion.

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Cambodia Renewable Energy Certificate Market: Major Players

Electricité du Cambodge (EDC), TotalEnergies Cambodia,SN Power (Scatec), ECOHZ and I-REC Standard.

Segment Covered in the Cambodia Renewable Energy Certificate Market:

By Type
I-REC leads with 78% share, as Cambodia primarily relies on internationally recognized certification systems for renewable energy validation. The framework supports corporate sustainability reporting and global compliance programs. TIGR holds 22%, mainly used by multinational companies seeking diversified REC portfolios. Adoption grows gradually as private-sector participation increases.

By Energy Source
Solar RECs dominate with 41% share, driven by Cambodia's rapid solar capacity expansion and increasing rooftop installations. Wind RECs account for 8%, limited by the country's low wind potential and minimal installed capacity. Hydro RECs hold 37%, supported by large hydropower plants driving Cambodia's grid supply. Biomass, geothermal, and others collectively contribute 14%, supported by localized renewable projects and industrial energy recovery initiatives.

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