The Solomon Islands Renewable Energy Development Project will finance two photovoltaic (PV) parks and a utility-scale grid-connected energy storage system in the Solomon Islands.

The Asian Development Bank, the Saudi Fund for Development and Solomon Power are financing the project.

A project is currently underway in the Solomon Islands to help the country accelerate its renewable energy generation.

The Solomon Islands Renewable Energy Development Project plans to finance new photovoltaic (PV) parks in the provinces of Guadalcanal and Malaita, along with a utility-scale grid-connected energy storage system in Honiara, the country’s capital.

It will also support a rooftop photovoltaic (PV) pilot for two regional schools.

Other goals include promoting private sector participation by preparing at least one private sector renewable energy project.

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 Solomon Islands government is providing $7 million.

Almost all of the Solomon Islands’ grid electricity is generated by diesel, with renewables accounting for about 2% of the energy mix.

Shane Rosenthal, Regional Director of the ADB’s Pacific liaison and coordination office, said the project will reduce reliance on costly fossil fuel imports.

“Poor access to clean, sustainable electricity and high electricity prices limit Solomon Islands’ opportunities for economic growth and prosperity,” Rosenthal added. “[The project] will install additional solar capacity in the country and provide the largest grid-connected battery storage system in the Pacific, which is a crucial first step in expanding grid-connected renewable energy through private sector investment.”

 

Source:https://www.evwind.es