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Pacific Islands Renewable Energy Investment Program.

Approved - December 2016

Country - Cook Islands, Marshall Islands, Micronesia (Federated States of),

Nauru, Papua New Guinea, Samoa, Tonga

Total project investment - $26.0m

Est. implementation period - 4.0 years

Helping free SIDS from their diesel dependence.

This programme covers seven Small Island Developing States (SIDS) which are some of the some of the worlds smallest, most isolated economies. They are the Cook Islands, Tonga, Republic of Marshall Islands, Federated States of Micronesia, Papua New Guinea, Nauru and Samoa. Power generation costs in these countries is among the highest because of their reliance on imported diesel, along with the high transportation costs from distributing the diesel to often highly dispersed populations.

All SIDS targeted in this programme recognize the benefits of shifting from diesel to renewable energy. This will lead to not only reduced greenhouse gas emissions but also enhanced energy security and improved balance of payments through reduced fossil fuel imports. But they also face various barriers in achieving this aim. This includes the high initial costs of installing renewable energy, the current lack of private sector investment and the pressing need for energy sector reforms.

This programme will initiate a number of paradigm-shifting moves across the seven SIDS. These include feasibility studies on how to expand renewable energy coverage, reform power utility management and encourage private sector engagement by identifying opportunities for independent power providers. Broad initiatives to move SIDS to renewable energy are being kicked off by an element within the programme to assist the Cook Islands install battery storage. This will help spur private sector investment to pave the way towards Cook Islands national target of 100 percent renewable energy by 2020.

The project has an estimated lifespan of 25 years.

Accredited Entity

SECRETARIAT OF THE PACIFIC REGIONAL ENVIRONMENT PROGRAMME (SPREP)

Project completion date : 2020-12-30 12:00:00

Major organization : TE APONGA UIRA AND COOK ISLANDS

Address : P O Box 112

Rarotonga

Cook Islands

Country :Cook Islands

Email : enquiries@electricity.co.ck

Url : www.teaponga.com/

Financier : ASIAN DEVELOPMENT BANK (ADB),THE GREEN CLIMATE FUND,

Financier address : Green Climate Fund

Songdo Business District

175 Art Center-daero

Yeonsu-gu, Incheon 22004

Tel - +82.32.458.6059

Email info@gcfund.org

https://www.greenclimate.fund

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Publication:Mena Report
Geographic Code:8COOK
Date:Feb 24, 2018
Words:378
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