The Solomon Islands Renewable Energy Development Project will finance two solar farms and a utility-scale grid-connected energy storage system on the Solomon Islands. The Asian Development Bank, Saudi Fund for Development, and Solomon Power are all financing the project.
September 17, 2024 Patrick Jowett
Guadalcanal province, Solomon Islands
Image: Gilly Tanabose, Unsplash
A project is now underway on the Solomon Islands to help the country accelerate its renewable energy generation.
The Solomon Islands Renewable Energy Development Project plans to finance new solar farms in Guadalcanal and Malaita provinces, along with a utility-scale grid-connected energy storage system in Honiara, the country’s capital. It will also support a pilot for rooftop solar at two regional schools.
Other aims include promoting private sector participation by preparing at least one private sector renewables 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 government of the Solomon Islands is providing $7 million.
Almost all of the Solomon Islands’ grid electricity is diesel generated, with renewables making up around 2% of the energy mix. Shane Rosenthal, ADB’s Pacific liaison and coordination office regional director, said the project will reduce dependency on expensive fossil fuel imports.
“Poor access to clean and 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 deliver 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.”
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