Pacific Renewable Energy Investment Facility Annual Report 2020
This is the fourth annual progress report of the Pacific Renewable Energy Investment Facility, covering January to December 2020.
The Pacific Renewable Energy Investment Facility is designed to finance a series of renewable energy projects in the 11 small Pacific island countries (PIC-11) and was approved in June 2017.1 The PIC-11 comprises the Cook Islands, the Federated States of Micronesia, Kiribati, the Marshall Islands, Nauru, Palau, Samoa, Solomon Islands, Tonga, Tuvalu, and Vanuatu. The facility finances renewable energy projects in the PIC-11 with an overall estimated cost of $750 million, comprising (i) up to $200 million in Asian Development Bank (ADB) financing, (ii) an estimated $500 million from cofinancing sources, and (iii) an estimated $50 million from government counterpart financing.
- Facility Design and Revised Scope and Implementation Arrangements
- Implementation Progress
- Indicative Pipeline of Facility and Private Sector Investments