The Asian Development Bank (ADB) and its partners have initiated a $35 million renewable energy project in the Solomon Islands, funded through a combination of loans, grants, and local contributions. The project is supported by a $10 million concessional loan and a $5 million grant from the Asian Development Fund, which assists ADB’s poorest member countries. The Saudi Fund for Development (SFD) and Solomon Power are each contributing $10 million, marking the first joint financing project between ADB and SFD. The Government of Solomon Islands is providing $7 million in exempted duties and taxes. Key components of the project include solar farms in Guadalcanal and Malaita provinces, the largest grid-connected battery storage system in the Pacific, and power sector reforms to encourage private sector investment. Additionally, solar hybrid systems for provincial grids and pilot rooftop solar systems in schools are part of the initiative.
Related News
AfDB funded two 15 MW solar plants in Chad to generate 61 GWh annually and cut emissions by 49,000 tons per year. (Image Credit/Source: LCEC/Pixabay)
African Development Bank funded 30 MW solar project in Chad
Algeria and GE Vernova discussed 15 GW renewable energy projects, including solar, as Sonelgaz led talks in Atlanta. (Image Source:Zawya)
GE Vernova and Sonelgaz explored Algeria’s energy projects
LRE powered up Morrow Lake Solar, supplying 200 MW to Microsoft with innovative solar tech and eco-friendly land use. (Image Credit/Source: StockSnap/Pixabay)
LRE completes 200 MW Morrow Lake Solar in Texas
re:cap green energy acquired 51.7 MW solar projects from Milvio Energy, with completion expected between Q1 and Q4 of 2025. (Image Credit/Source: TheOtherKev/Pexels)