The Asian Development Bank, Saudi Fund for Development, and Solomon Power are all financing the project. A project is now underway on the Solomon Islands to help the country accelerate its renewable energy generation.
Renewable energy only makes up 2% of the Solomon Islands’ electricity mix. Image: Namkoo Solar. A group of investment firms led by the Asian Development Bank (ADB) has partnered with the government of the Solomon Islands to finance new solar PV power plants, increase rooftop solar PV installations and support the islands’ power sector reforms.
A pilot business model for rooftop solar PV systems will also be trialled at two schools in the country. Shane Rosenthal, ADB’s Pacific liaison and coordination office regional director, believes that upscaling renewable energy generation in the Solomon Islands could help unlock economic growth and prosperity.
The project is being funded by a $10 million concessional loan and a $5 million grant from the Asian Development Bank (ADB), while the Saudi Fund for Development and state-owned Solomon Power are providing $10 million each. The government of the Solomon Islands is providing $7 million.
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The Solomon Islands Renewable Energy Development Project will finance two photovoltaic (PV) parks and a utility-scale grid-connected energy storage system in the …
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A group of investment firms led by the Asian Development Bank have partnered with the Solomon Islands to finance new solar PV.
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A group of investment firms led by the Asian Development Bank have partnered with the Solomon Islands to finance new solar PV.
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The Solomon Islands Renewable Energy Development Project will finance two photovoltaic (PV) parks and a utility-scale grid …
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