Cambodia Australia Partnership for Resilient Economic Development (CAPRED) is Australia's flagship bilateral economic development program in Cambodia. Funded by the Department of Foreign Affairs and Trade (DFAT) and implemented by Cowater International, CAPRED focuses on supporting inclusive economic recovery and boosting resilience and sustainability over the five years from 2022 to 2027. CAPRED adopts a mix of a programmatic and facility model. The facility model allows CAPRED to flexibly tackle a range of emerging inter-related public and private sector constraints and opportunities to promote resilient, inclusive, and sustainable growth (RISE) across different sectors.

CAPRED supports Cambodia's efforts in green energy transition. With the endorsement of the Ministry of Mines and Energy (MME), CAPRED is closely collaborating with the EDC (the public energy utility) to identify and implement a suitable weather forecast system to predict solar energy outputs.

The forecast system is aimed at supporting EDC to more accurately forecast solar energy outputs from both utility scales and behind the meter solar systems. More accurate forecasts are a key milestone for the management of Variable Renewable Energy (VRE) integration into the national grid and thus enhancing more adoption of VRE.

The Cambodian government released the National Energy Efficiency Policy (NEEP) in 2023. One key strategy within NEEP is fostering the development of the Energy Service Company (ESCO) market in Cambodia.

ESCOS offer a proven business model, providing needed investment and guaranteeing energy savings over a contracted period. While globally recognized, Cambodia's ESCO market is still nascent. To leverage ESCOs' potential to drive energy efficiency, CAPRED aims to pilot investment with ESCO models between ESCOs and businesses in rice milling, food processing, ice-making, hotel and animal farming sectors.