The objective of this report is to analyze the most cost-effective public derisking measures to support private sector investment in on-grid and off-grid solar photovoltaic (PV) energy in Cambodia. Taking a comprehensive approach, the report analysis four different solar PV sub-sectors: on-grid: (i) utility-scale PV and (ii) rooftop PV; off-grid: (iii) solar-battery mini-grids (solar-battery MG) and (iv) solar home systems (SHS). The report presents the results from a quantitative and investment-risk informed modelling analysis. Modelling data has been obtained from the recent literature and structured interviews with private sector investors and developers. This report was prepared in collaboration with the National Council for Sustainable Development (NCSD) of Cambodia, reviewed by the Ministry of Mines and Energy (MME), and Ministry of Economy and Finance (MEF).