Solomon Islands secures finance for new solar PV projects from investors
- Admin
- Sep 17, 2024
- 3 min read
A group of investment firms led by the Asian Development Bank (ADB) has partnered with the government of the Solomon Islands to finance new solar PV power plants, increase rooftop solar PV installations, and support the islands’ power sector reforms. The initiative is funded by a US$10 million concessional loan and a US$5 million grant from the Asian Development Fund. This initiative will help the Solomon Islands transition to renewable energy and facilitate clean energy generation and battery storage system installation. Additionally, the funding will also support power sector reforms and promote private sector participation in renewable energy generation. Shane Rosenthal, ADB’s Pacific liaison and coordination office regional director, stated that upscaling renewable energy generation in the Solomon Islands could unlock economic growth and prosperity. The article also mentions the ADB's support for Indian rooftop solar PV.
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