Southeast Asian wind energy project developer The Blue Circle has appointed Varabott Ho to its Board of Directors confirming its continued interest in Cambodia.
The Blue Circle Board of Directors now consists of six members. Varabott Ho has more than 20 years working experience in the banking and finance industry across Europe and Asia Pacific. He worked in Private Banking at Banque Indosuez and Banque Hottinguer before becoming Senior Investment Manager at Credit Suisse in Paris, London and Zurich.
In 2010, Varabott specialised in emerging markets at Axa in France and Leopard Capital in Cambodia. He is now General Manager of the Institute of Banking & Finance Cambodia, founded by The Association of Banks in Cambodia to provide training to the banking and finance community in Cambodia. Varabott has acted as an advisor to The Blue Circle since 2013. Varabott graduated from the University of Chicago Booth School of Business and is a certified EFFAS International Investment Analyst.
“I am very pleased to welcome Varabott Ho to our Board of Directors” said Olivier Duguet, Chief Executive Officer of The Blue Circle. “He will bring not only his extensive international financial experience but also his understanding and knowledge of the new Cambodia emerging economy. It confirms our interest in implementing renewable energy solutions for a country where electricity demand is growing at 16 percent per year and with the second highest cost of energy in the ASEAN”.
Cambodia had 2,008 MW installed and 58 percent households electrification rate as of December 2016. The country is still dependent on its imports for 24 percent of its energy supply and has planned to add 1,335 MW of new power capacity by 2024.