BY NED GAGAHE
The high cost of electricity is a major obstacle to the socio-economic growth of the Solomon Islands, Prime Minister Manele said, highlighting the financial burden it places on businesses, households, and the nation’s development prospects.
Speaking at the groundbreaking ceremony for main works at the Tina River Hydropower Development Project this week, Prime Minister Manele warned that rising global energy prices, driven by disruptions in fuel supply chains and conflicts in oil-producing regions, would worsen the situation, further straining the country’s economy and the well-being of its citizens.
“Let me begin by underscoring a fact that touches each of our lives and the future we envision for the Solomon Islands. That is the high cost of electricity.
“It’s a formidable obstacle to our nation’s socio-economic growth. From small business to large industries and within every household the financial burden of energy remains a significant challenge shaping the very core of our livelihoods and our nation’s development prospects.
“Today we are acutely aware that the high electricity tariff impacts not only the cost of doing business but also the well-being and daily lives of our citizens.
“Unfortunately, this situation is expected to worsen with rising global energy costs the result of disruptions in fuel supply chains and ongoing conflicts in oil-producing regions. These are global events beyond our control yet they have profound implications on our economy.
“Ladies and gentlemen, our dependence on imported fossil fuels for power generation exposes us to the global economic shocks that drive up electricity costs and undermine socio-economic progress across both private and private sectors,” he said.
The Prime Minister said that with the project, the country aimed to break free from dependency by harnessing the country’s abundant natural resources to provide reliable, affordable, and clean energy.
“This hydro project represents our commitment to sustainable development. For years this project has been a vision and a promise and today it becomes a reality.
“With it we move forward in diversifying our energy sector, reducing reliance on fossil fuels and building a greener, more resilient economy.
“Tina Hydro will not only lower electricity costs but also mitigate environmental impacts by reducing our carbon footprint, aligning with our global responsibilities. “This vision is not only about energy production, it is about also empowering our people, reducing costs for households and making Southern Islands a more attractive place for investment,” Prime Minister Manele said.
