Solomon Islands costs of energy storage projects

How much will a solar PV project cost in Solomon Islands?

Component 3: US$ 2.5million to add grid-connected solar power to contribute to the overall share of renewable energy in Solomon Islands energy mix. Solomon Power has identified three possible sites for grid-connected solar PV, not all of which are likely to be funded under the Project. These include:

Who is financing a solar energy project in the Solomon Islands?

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.

How will solar power benefit the Solomon Islands?

This will provide access of low-income households to electricity in Peri-urban and rural areas of Solomon Islands, and by increasing the generation capacity of renewable energy facilities (solar PV) in the Islands.

How much electricity does the Solomon Islands produce?

The Solomon Islands produce a total of 103 m kWh of electric energy per year. Per capita, this is an average of 135 kWh. The country can completely be self-sufficient with domestically produced energy, as their total production meets 108 percent of their own requirements.

How is the Solomon Islands project funded?

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.

How much is the Solomon Islands infrastructure project worth?

The financing package for the project, worth over US$200 million, through loans and grants from six institutions, marks the first large-scale infrastructure project for Solomon Islands to be developed as a public-private partnership (PPP).