HONIARA, SOLOMON ISLANDS (12 September 2024)– The Asian Development Bank (ADB) and the Government of Solomon Islands are joining other partners to help Solomon Islands transition to renewable energy with a transformational project that will accelerate renewable energy generation and battery storage system installation, support power sector reforms, and promote private sector participation in the renewable energy generation.
Who is financing a solar energy project in the Solomon Islands?
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.
The project will finance new solar farms in Guadalcanal and Malaita province, along with a utility-scale grid-connected energy storage system in Honiara. Nearly all of Solomon Islands' grid power is diesel generated. Solar hybrid project 2017 at Taro. Image credit Solomon Power
Nearly all of Solomon Islands' grid power is diesel generated. Solar hybrid project 2017 at Taro. Image credit Solomon Power The Solomon Islands of Oceania are an archipelago with a rich history, some of it not so good for the residents there.
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.
Moreover, the Saudi Fund for Development (SFD) and Solomon Power are providing $10 million each and the Government of Solomon Islands is offering $7 million in exempted duties and taxes. Almost All Islands are Ripe for Microgrid Adoption Check out more at Microgrid Knowledge
Solomon Islands was the site of numerous World War II battles between the United States and Japan, including the Battle of Guadalcanal. The nation still suffers from a lack of infrastructure and health and well-being initiatives, according to reports.