BY BEN BILUA
SOLOMON Islands has been listed as one of the beneficiaries of an ADB $3million project.
The project is part of Pacific Island with clean energy and focus will be on technical assistance to strengthen the reliability and sustainability of the energy sector and mobilise private sector investments in clean and renewable energy.
The technical assistance facility will support due diligence, preparation and procurement, and reform recommendations for projects such as the Federated States of Micronesia Climate Resilient Energy and Water Project, the Marshall Islands Electrification Project, and the Solomon Islands Sustainable Solar Development Investment Program.
It will also provide technical expertise to prioritize, plan, and prepare investment projects.
The facility aligns with ADB’s Pacific Approach, 2021–2025, which aims to deliver sustainable services wherein renewable energy-based electricity generation has a key role to play.
ADB recently raised its ambition for 2019–2030 cumulative climate financing to $100 billion and is committed to ensuring that at least 75% of its projects will address climate change mitigation and adaptation by 2030.
Island Sun understand that funding will boost the existing projects that ADB is working with the Government of Solomon Islands and Solomon Power to convert electricity networks in five provinces to solar power as part of a new approach to reduce the need for costly shipments of diesel to the provincial centers.
One of the big project is the Tina Hydro which aim to provide affordable electricity and improved accessibility to cleaner, more reliable energy sources for communities now and in the future.