PRIME Minister Rick Houenipwela has graced the occasion of the signing of the Memorandum of Understanding (MOU) between Solomon Power and Hitachi Ltd in Tokyo on Wednesday this week.
The MOU is aimed at resolving energy issues in the Solomon Islands.
The MOU was signed between Mr Pradip Verma, Chief Executive Officer of Solomon Power and Mr Yutaka Banno, Managing Director of Social Innovation Business Division of Hitachi Ltd.
Speaking during the ceremony, Prime Minister Houenipwela thanked and congratulated Hitachi Ltd and Solomon Power for venturing into a collaborative construction to design a solar power plant with other stakeholders that will be involved in the operation.
“It is a great development and a sustainable one for the people of Solomon Islands and I would like to acknowledge Solomon Power and Hitachi for this important milestone,” he said.
The Prime Minister also thanked Hitachi on behalf of the Government and people of Solomon Islands.
Solomon Power chief executive officer (CEO) Pradip Verma said under this MOU, Hitachi Ltd and Solomon Power will work collaboratively to develop a solar plant in Solomon Islands.
He said the aim of the MOU is to assist Solomon Power to lower the cost of energy generation thereby reducing the electricity tariff and to improve energy security for the country.
Pradip said Solomon Power is actively moving forward to reduce energy costs and improve energy security by providing power to more of the country’s residents via renewable energy sources by reducing fuel consumption.
“These are all in alignment with the vision of Solomon Power ‘energising our nation’,” he said.
Pradip has also thanked the Prime Minister and his delegation for gracing the occasion.
The signing was also preceded by presentations by Hitachi on the developments that Hitachi has achieved over the years in Renewable Energy, Energy Storage Systems, Artificial Intelligence, Internet of Things and Energy Management Systems.
Hitachi is a Japanese powerhouse company which is also specialised in renewable energy, drawing upon its experience in the construction of high-efficiency solar and wind power stations, and its expertise in applying Internet of Things (IoT) technology to ensure power generation stability.