Green Climate Fund approves US$86 Million for Tina River Hydro Development Project in Solomon Islands

Green Climate Fund approves US$86 Million for Tina River Hydro Development Project in Solomon Islands

Significantly reduced electricity costs are one step closer with the approval of US$86 million by the board of the Green Climate Fund for the Tina River Hydropower Project. The funding approval was made in a meeting of the Fund’s board at its headquarters in Songdo, South Korea this week. Of the GCF funding, US$70 million is a low-interest loan towards the cost of building the hydro power facility, while US$16 million is grant contribution for the construction of the key access road that will link the power house and the hydropower facility to the capital city Honiara. The Green Climate …

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International Renewable Energy Agency awards concessional loan for Tina Hydro

International Renewable Energy Agency awards concessional loan for Tina Hydro

Solomon Islands has been awarded a USD15 million concessional loan for Tina Hydro Project by the International Renewable Energy Agency, IRENA. The award was announced during IRENA’s 2017 Assembly in Abu Dhabi last weekend. It is the first concessional loan to be approved in support to Tina Hydro, which is the largest renewable energy project ever in Solomon Islands and the largest renewable project currently being developed in the Pacific. The Tina Hydro will provide access to renewable energy for more than 100,000 people in the greater Honiara region and has been under preparation since 2011 with donor support primarily …

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The Tina River experience: Power (only) through partnership

Genuine partnerships are not just important for sustainable development; they are essential. This has been the lesson of Tina River Hydro in the Solomon Islands, where a flagship renewable energy project is approaching construction. Tina Hydro will displace more than 80 per cent of the electrical energy currently supplied by diesel generation. It is also now beginning to catalyse additional partnerships which are set to enable further sustainable development outcomes, such as the integrated management and protection of large tracts of unique highland rainforest. Both of these themes were shared at a side event on Wednesday at the SIDS Conference …

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