规则与准入
私人发电项目以「发电牌照（Generation License）」形式持有。《电力法（2001）》第30条规定，发电牌照人有权从特定发电设施发电并出售（非仅供自用）；牌照有效期一般等于该发电设施的预计使用寿命，但若《购电协议》（Power Purchaser Agreement, PPA）期限更短则以 PPA 为准。外资持有：投资法鼓励资本流入与技术转让，并设透明、可预期、非歧视且有竞争力的投资激励制度（第24条列举享有激励的行业与活动），商业企业法亦确认外资与本地公司同权（第278条），故外资可设立 IPP 并持有发电牌照。
The Generation Licensee shall have the right to generate electricity power from specifically fixed identified generation facilities ... The validity of the generation license shall generally be for the expected useful life of the generation facility except in the case the Power Purchaser Agreement has a shorter term.
The following investment sectors and activities are entitled to investment incentives:
same as the local company except any acts that prohibited for natural or legal person who is foreigner
IPP 以发电牌照持有并向电网售电，购电方为柬埔寨电力公司（EDC，持合并牌照的国有供电企业）。《电力法（2001）》第30条将 PPA（Power Purchaser Agreement）作为发电牌照有效期的关键参照；电价由 EAC 依第46-48条审批——EAC 在收到牌照企业调价申请后 90 天内须批准、修订或驳回，并最迟于该 90 天内确定新电价生效日；电价须保护消费者免受垄断定价、允许牌照企业回收合理成本并反映长短期边际成本。竞争性招标或政府直接谈判等 IPP 遴选机制由 EAC/政府能源政策确定。
The validity of the generation license shall generally be for the expected useful life of the generation facility except in the case the Power Purchaser Agreement has a shorter term.
Within ninety (90) days from the receiving date of any application by licensees requesting the Authority to determine or revise their tariff, the Authority shall approve, revise, or disapprove this request.
The following investment sectors and activities are entitled to investment incentives:
《投资法（2021）》确立非歧视原则：除宪法另有规定的土地所有权事项外，不得因外国国籍歧视外国投资者（第15条）；外资企业可自由购汇并经授权中介银行汇出、以清偿与投资相关的财务义务（第19条）。法律未对 IPP/电力工程设定普遍的本地合资强制比例。土地所有权虽限柬籍，但可通过租赁/特许权使用土地（第21条），不构成合资强制。具体行业若有本地含量或合资要求，须以专门法规或 PPA/招标条款为准。
Foreign investors shall not be subject to any discrimination on the basis of foreign nationality, except for land ownership as stipulated in the Constitution ...
Investors' ownership of land for the purpose of implementing Investment Projects is granted only to persons of Cambodian nationality ... Investors have the right to use land through economic land concessions or perpetual leases or leases for a fixed duration ...
《电力法（2001）》第37条设「趸售牌照（Bulk Sale License）」：持牌人有权向发电牌照人或邻国电力系统购电，再售给配电牌照人或同一联网系统的大用户。EAC 在政府对开放趸售市场的条件全部满足后，方可发趸售牌照；趸售市场下生产者可向多个买家售电，输电服务与发电分离并成为收取过网费（wheeling charge）的服务提供者。趸售牌照为定期牌照。第29条亦单列「调度牌照（Dispatch）」以控制发输配系统的调度。
The Bulk Sale Licensee shall have the right to buy the electricity from any Generation Licensees or from the power systems of neighboring country for sale to Distribution Licensees or to the large customers in one connected power system.
这两项在附件2 里是两条独立活动，分组与门槛都不同：电厂建设属第1组第24.6条，所得税免税 9 年，投资规模低于 1,000 万美元落入附件1 D.9.11；可再生能源发电属第2组第48条，免税 6 年，规模低于 50 万美元落入附件1 D.9.10。具体项目归入哪一条，以柬埔寨发展委员会（CDC）的认定为准——活动名称相近不等于分组相同，例如以生物质、沼气为燃料的发电与专门的沼气制造（附件2 第2组第44条）也不是同一条活动。
Investment activity in the construction of power plants
Investment activity in the generation of renewable energy
Investment activity in the main infrastructure for transmission networks and substations Investment capital less than USD 7,000,000 (seven million US Dollars)