MANILA, PHILIPPINES – Asian Development Bank (ADB) Vice-President Stephen Groff will lead an ADB delegation to the Pacific Energy Summit, to be held in Auckland on 25-26 March, hosted by the New Zealand Government and the European Union.
Mr. Groff, who is responsible for ADB’s operations in East Asia, Southeast Asia, and the Pacific, is a key speaker at the Summit, which will explore ways in which the Pacific region’s access to clean, affordable and reliable energy may be increased.
On the first day of the summit, Pacific leaders will present their energy plans for reducing reliance on fossil fuels. Day two will have an international focus, with development partners sharing lessons learned and offering insights into making progress toward Pacific renewable energy targets.
Mr. Groff will participate in a plenary session on investment in renewable energy and energy efficiency. Financing energy sector investments through private sector and public funding will be discussed. Other ADB delegation members will discuss specific country challenges and opportunities, working with development institutions, and improving demand and supply side efficiency. ADB will also have available the March 2013 issue of its Pacific Economic Monitor with a special theme on energy.
ADB is a major financier of renewable energy and energy efficiency improvements for the power sector in the Pacific, with an existing public sector financing portfolio in renewable energy and energy efficiency of $187.5 million ($169.5 loan/grant, $18 million technical assistance grant) and a projected portfolio 2013-2015 of $270 million.