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Add to Preferred SourcesThe Asian Development Bank (ADB) has approved an $18 million loan and a $12 million grant to help the Solomon Islands reduce the country’s reliance on imported fossil fuels for power generation through the Tina River Hydropower Project.
“This transformational project will support the development of renewable energy to supply electricity to the capital, Honiara,” said the Director-General of ADB’s Pacific Department Ms. Carmela Locsin. “We look forward to working with our partners on this project to help the Solomon Islands prepare for a renewable energy future.”
ADB joins other partners in supporting the Tina River Hydropower Project, including the Government of Australia, the Green Climate Fund, Abu Dhabi Development Fund, Export-Import Bank of Korea, and the World Bank Group.
The main aim of the project is to increase the generation of renewable energy on the Honiara grid. To achieve this, a 15-megawatt hydropower plant will be developed on the Tina River, just outside Honiara.
The project will be the largest public-private partnership project ever developed in the Solomon Islands. A special project company, consisting of Korea Water Resources Corporation and Hyundai Engineering Corporation Limited, will be established to design, build, own, operate and manage the plant. The company will undertake the construction of the hydropower facility through a build-operate-own-transfer scheme.
Original source: ADB
Published on 26 September 2019