The Asian Development Bank (ADB) and the Government of Solomon Islands along with other partners will enable Solomon Islands transition to renewable energy with a transformational project, the Solomon Islands Renewable Energy Development Project, to accelerate renewable energy generation and battery storage system installation, support power sector reforms, and promote private sector participation in the renewable energy generation.
“This project will reduce dependency on expensive fossil fuel imports and constitute an important milestone for Solomon Islands on its transition to renewable energy,” said ADB’s Pacific Liaison and Coordination Office Regional Director, Shane Rosenthal. “It will install additional solar capacity in the country and deliver the largest grid-connected battery storage system in the Pacific, which is a crucial first step in expanding grid-connected renewable energy through private sector investment.”
While the project is funded by a $10 million concessional loan, a $5 million grant is secured from the Asian Development Fund, which considers ADB’s poorest and most vulnerable developing member countries. Moreover, the Saudi Fund for Development (SFD) and Solomon Power are providing $10 million each and the Government of Solomon Islands is offering $7 million in exempted duties and taxes.
Almost all of Solomon Islands’ grid electricity is diesel generated, with renewables accounting around 2 percent of the energy mix. The project backs other ADB energy sector interventions helping install more renewable energy generation, including the Tina River Hydropower Project as well as another project converting five diesel-powered provincial grids to solar hybrid systems.
Utility Solomon Power has developed several solar projects in the recent past dating back to 2017. Those solar farms (pictured) were built in the Seghe Western and Choiseul provinces.
Solomon Islands was the site of numerous World War II battles between the United States and Japan, including the Battle of Guadalcanal. The nation still suffers from a lack of infrastructure and health and well-being initiatives, according to reports.
Rod Walton has spent 15 years covering the energy industry as a newspaper and trade journalist. He formerly was energy writer and business editor at the Tulsa World. Later, he spent six years covering the electricity power sector for Pennwell and Clarion Events. He joined Endeavor and EnergyTech in November 2021.
Walton earned his Bachelors degree in journalism from the University of Oklahoma. His career stops include the Moore American, Bartlesville Examiner-Enterprise, Wagoner Tribune and Tulsa World.
EnergyTech is focused on the mission critical and large-scale energy users and their sustainability and resiliency goals. These include the commercial and industrial sectors, as well as the military, universities, data centers and microgrids. The C&I sectors together account for close to 30 percent of greenhouse gas emissions in the U.S.
Many large-scale energy users such as Fortune 500 companies, and mission-critical users such as military bases, universities, healthcare facilities, public safety and data centers, shifting their energy priorities to reach net-zero carbon goals within the coming decades. These include plans for renewable energy power purchase agreements, but also on-site resiliency projects such as microgrids, combined heat and power, rooftop solar, energy storage, digitalization and building efficiency upgrades.
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, which provides grants to the ADB''s poorest and most vulnerable developing member countries.
The Saudi Fund for Development (SFD) and the state-owned enterprise Solomon Power will each provide US$10 million. This marks the first joint project financing by the ADB and the SFD. The government of the Solomon Islands is also contributing US$7 million in exempted duties and taxes.
The Solomon Islands Renewable Energy Development Project initiative will help the island, located north-east of Australia, transition to renewable energy by facilitating clean energy generation and battery storage system installation. It will also support power sector reforms and promote private sector participation in renewable energy generation.
Specifically, the funding will help finance two new solar PV power plants in Guadalcanal and Malaita, and a new utility-scale grid-connected energy storage system in Honiara. The sizes of each have not been disclosed.
The funding will also support Solomon Islands'' power sector reforms, including identifying and preparing at least one private sector renewable energy project. A pilot business model for rooftop solar PV systems will also be trialled at two schools in the country.
Shane Rosenthal, ADB''s Pacific liaison and coordination office regional director, believes that upscaling renewable energy generation in the Solomon Islands could help unlock economic growth and prosperity. Currently, renewable energy only makes up 2% of the country''s grid.
"Poor access to clean and sustainable electricity and high electricity prices limit Solomon Islands'' opportunities for economic growth and prosperity. This project will reduce dependency on expensive fossil fuel imports and constitute an important milestone for Solomon Islands on its transition to renewable energy," Rosenthal said.
"It will install additional solar PV capacity in the country and deliver the largest grid-connected battery storage system in the Pacific, which is a crucial first step in expanding grid-connected renewable energy through private sector investment."
Being offered to the State Bank of India (SBI) and the National Bank for Agriculture and Rural Development (NABARD), the financing will support tranches two and three of the Multitranche Financing Facility (MFF) solar rooftop investment programme, which was approved by the ADB in 2016.
This programme is a US$505 million multi-tranche financing facility, consisting of US$500 million financial intermediation loans and US$5 million capacity development technical assistance. ADB said the tranche two loan was to be provided to the SBI, while the tranche three loan was to be provided to NABARD.
From the moment you woke up this morning, chances are you''ve been relying on electricity every second. It powered the alarm clock that got you out of bed, it kept the milk in your coffee from spoiling overnight, and it powers the device you''re using to read this feature story right now. But for too many communities around the world, reliable electricity remains frustratingly elusive.
Solomon Islands provides an example of the developmental challenges faced due to a lack of electricity. Without power, fishers have nowhere to safely refrigerate their day''s catch, stifling the development of a potentially lucrative industry. Students are left literally in the dark, unable to study at night. And doctors don''t have electricity to power the lights in health clinics and hospitals, vital cold storage, and life-saving ventilators.
Many children in Solomon Islands are cut off from better education opportunities and the transformative experience of being connected to the rest of the world through reliable power. Photo: Robert Taupongi / World Bank
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