The Asian Development Bank (ADB) and the Government of Solomon Islands have unveiled a groundbreaking renewable energy initiative designed to diminish the country's reliance on fossil fuels and advance sustainable energy production.
This ambitious project is backed by a $10 million concessional loan and a $5 million grant from ADB, alongside contributions of $10 million each from the Saudi Fund for Development (SFD) and Solomon Power. Notably, this represents the first collaborative financing effort between ADB and SFD.
The initiative will fund the construction of new solar farms in Guadalcanal and Malaita, install the largest grid-connected battery storage system in the Pacific, and introduce rooftop solar systems at regional schools. Additionally, it will support reforms in the power sector and encourage private sector participation.
With only 2 percent of Solomon Islands' grid electricity currently sourced from renewables, this project seeks to significantly increase this share, while also advancing gender equality, climate resilience, and sustainable governance.
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