Renewables project to boost solar on Solomon Islands
The Solomon Islands Renewable Energy Development Project plans to finance new solar farms in Guadalcanal and Malaita provinces, along with a utility-scale grid
Component 3: US$ 2.5 million is allocated to add grid-connected solar power to contribute to the overall share of renewable energy in Solomon Islands' energy mix.
The Asian Development Bank, Saudi Fund for Development, and Solomon Power are all financing the project. A project is now underway on the Solomon Islands to help the country accelerate its renewable energy generation.
The project is being funded by a $10 million concessional loan and a $5 million grant from the Asian Development Bank (ADB), while the Saudi Fund for Development and state-owned Solomon Power are providing $10 million each. The government of the Solomon Islands is providing $7 million.
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