The Solomon Islands Ministry of Mines, Energy and Rural Electrification for the Honiara grid has launched a new partnership on renewable energy transition modelling with the Australian Department of Climate Change, Energy, the Environment and Water.
Permanent Secretary Ministry of Mines, Energy and Rural Electrification, Dr Chris Vehe, welcomed the project.
"The development of a dynamic, open-source energy transition modelling tool will greatly benefit Solomon Islands as we implement the National Energy Policy," Dr Vehe said.
"This tool will support evidence-based decision making by the Solomon Islands Government about how to improve renewable energy integration, energy affordability and security in the Honiara electricity grid."
Australian High Commissioner, His Excellency Rod Hilton, said the project was an example of the depth of Australia''s support for renewable energy and climate change resilience in Solomon Islands.
"Alongside Australia''s financing and delivery of climate-resilient infrastructure and renewable energy generation projects, policy-based technical initiatives, such as this, deepen the people-to-people links between our two countries as we strengthen resilience to climate change," High Commissioner Hilton said.
Over the next eight months, renewable energy experts from the University of New South Wales (UNSW) will implement the Planning Framework and Capacity Expansion Modelling Tools for Solomon Islands Project.
Last month, Australian Government officials and renewable energy experts from the UNSW held consultations with key stakeholders to ensure alignment of the project scope with Solomon Islands'' current energy priorities, including the outcomes of the National Energy Summit.
Project partners also include the South Pacific Community, the Pacific Power Association and the University of the South Pacific.
The project is intended to be completed by mid-2025.
The Asian Development Bank (ADB) and the Government of Solomon Islands have teamed up with other partners to launch a transformative renewable energy project aimed at accelerating the country''s shift towards cleaner energy. This initiative will focus on increasing renewable energy generation, installing large-scale battery storage systems, supporting power sector reforms, and encouraging private sector investment in renewable energy.
“Limited access to clean and affordable electricity, along with high electricity prices, hampers economic growth in the Solomon Islands," said Shane Rosenthal, Regional Director of ADB''s Pacific Liaison and Coordination Office. "This project marks a significant step in reducing dependence on costly fossil fuel imports and advancing the nation’s transition to renewable energy." The project will also deliver the largest grid-connected battery storage system in the Pacific and install new solar capacity.
The project is supported by a $10 million concessional loan and a $5 million grant from the Asian Development Fund, which aids the most vulnerable ADB member countries. Additional funding includes $10 million each from the Saudi Fund for Development (SFD) and Solomon Power. The Government of Solomon Islands is contributing $7 million through tax exemptions and duties. Notably, this marks the first collaboration between ADB and SFD on project financing.
Currently, nearly all of Solomon Islands’ grid electricity is generated from diesel, with renewables contributing just 2% to the energy mix. The Solomon Islands Renewable Energy Development Project complements other ADB efforts, such as the Tina River Hydropower Project and the conversion of five provincial grids from diesel to solar hybrid systems.
Key elements of the project include:
New solar farms in Guadalcanal and Malaita provinces, along with a utility-scale energy storage system in Honiara.
A pilot program for rooftop solar systems at two regional schools.
Support for power sector reforms, including the identification and preparation of at least one private sector-led renewable energy project.
Advancement of gender equality, climate change mitigation, climate resilience, environmental sustainability, and improved governance.
Tina River Hydropower Project moves a significant step closer to construction
HONIARA, December 6, 2018: The World Bank Group has today welcomed the signing of a series of key agreements which will help deliver cheaper and more reliable, renewable energy to Solomon Islands through the Tina River Hydropower Project.
People in Solomon Islands pay among the highest prices in the world for electricity, placing huge strains on families and businesses. The Tina River Hydropower Project aims to increase the amount of renewable energy in the Honiara national grid by nearly 70 percent while reducing reliance on expensive diesel power. The project will also pave the way for the country to exceed its 2025 greenhouse gas emissions reduction target by two and a half times.
The five agreements signed today are the culmination of over 10 years of preparatory work and three years of negotiations between the Solomon Islands Government, including the state-owned power utility Solomon Power and the private developers of the project, Korea Water Resources Corporation (K-water) and Hyundai Engineering Corporation (HEC). The International Finance Corporation (IFC), a member of the World Bank Group, is transaction adviser to the government of Solomon Islands.
Tina River Hydropower Development Project is Solomon Island''s first large-scale infrastructure project to be developed as a public-private partnership in Solomon Islands and was designed to help lower electricity prices for consumers.
Since it was first considered by the Solomon Islands Government in 2006, the World Bank Group has supported the Tina River Hydropower Project, including through IFC''s transaction advisory support during project preparation and commercial negotiations. The Multilateral Investment Guarantee Agency, also a member of the World Bank Group, is expected to provide equity political risk insurance cover to the sponsors.
"Today''s signing represents the culmination of considerable work by many parties who have supported the Solomon Islands Government in preparing this significant project", said Solomon Islands Minister for Finance and Treasury, the Hon. Manasseh Sogavare. "This is an important day in the history of renewable energy in the country and we look forward to the economic and social benefits Tina River Hydropower Project will bring to the people of Solomon Islands."
"Since this project was first proposed, all parties have remained focused on delivering cheaper and more reliable power to Solomon Islanders through renewable energy," said Guido Rurangwa, the World Bank''s Country Representative in Solomon Islands. "We congratulate the Solomon Islands Government and Solomon Power on reaching this important milestone that will ultimately improve the lives of thousands of Solomon Islands families, businesses and the country as a whole."
"This project will lead to a shift from nearly 100 percent diesel to majority renewable energy for the people of Solomon Islands," said Milissa Day, IFC''s Representative for Solomon Islands. "This dramatic transition from diesel to renewable energy and from public to private investment shows what is possible for small island nations seeking lower energy costs and with a commitment to renewable energy, which is vital for this region as it adapts to the challenges of climate change."
The agreements signed today include the Power Purchase Agreement between Solomon Power and Tina Hydropower Limited, a partnership between K-water and HEC, and the Government Guarantee Agreement and Implementation Agreement between the Solomon Islands Government and Tina Hydropower Limited.
In addition to the World Bank Group and Australian Government, financial support has been confirmed by the Abu Dhabi Fund for Development/International Renewable Energy Agency, the Green Climate Fund, and the Economic Development Cooperation Fund of Korea.
IFC''s work in Solomon Islands is guided by the Pacific Partnership. Australia, New Zealand, and IFC are working together through the Pacific Partnership to stimulate private sector investment and reduce poverty in the Pacific. The project also received invaluable support from DevCo, a multi-donor facility affiliated with the Private Infrastructure Development Group (PIDG), with funding from the Netherlands and Sweden.
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