fbpx 46453-004: Renewable Energy Sector Project | Asian Development Bank

Cook Islands: Renewable Energy Sector Project

Sovereign (Public) Project | 46453-004 Status: Active

The proposed second additional financing will leverage battery storage to facilitate expansion of solar PV-based generation systems in Rarotonga, thereby helping reduce fossil fuel consumption and enhance the level of energy security on the island. The additional GCF grant, with the additional contribution from the government of $1.71 million, will increase the overall project investment from the current $29.85 million to $43.56 million.

Project Details

Project Officer
So, Eun young Pacific Department Request for information
Country
  • Cook Islands
Sector
  • Energy
 
Project Name Renewable Energy Sector Project
Project Number 46453-004
Country Cook Islands
Project Status Active
Project Type / Modality of Assistance Grant
Loan
Source of Funding / Amount
Grant 0415-COO: Renewable Energy Project
European Union US$ 7.26 million
Loan 3193-COO: Renewable Energy Project
Ordinary capital resources US$ 11.19 million
Grant 0493-COO: Renewable Energy Sector Project - Additional Financing
Global Environment Facility Grant US$ 4.26 million
Grant 0548-COO: Renewable Energy Sector Project-Additional Financing
Green Climate Fund US$ 12.00 million
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Drivers of Change Gender Equity and Mainstreaming
Governance and capacity development
Knowledge solutions
Partnerships
Private sector development
Sector / Subsector

Energy / Renewable energy generation - solar

Gender Equity and Mainstreaming Some gender elements
Description The proposed second additional financing will leverage battery storage to facilitate expansion of solar PV-based generation systems in Rarotonga, thereby helping reduce fossil fuel consumption and enhance the level of energy security on the island. The additional GCF grant, with the additional contribution from the government of $1.71 million, will increase the overall project investment from the current $29.85 million to $43.56 million.
Project Rationale and Linkage to Country/Regional Strategy The current project meets all the eligibility criteria for additional financing. The proposed second additional financing component will enhance the outcome and impact of the current project, as well as ADB's contribution to power sector development in the Cook Islands. The proposed additional financing will also support the government's effort to increase power generation from renewable sources and enhance the government's institutional capacity for implementing the Cook Islands Renewable Energy Chart Implementation Plan (CIRECIP), 2012- 2020, which sets a target of supplying electricity from renewable energy sources on all inhabited islands by 2020. The proposed additional financing is included as a firm 2017 project in ADB's country operations business plan, 2017- 2019 for the Cook Islands.
Impact Increased energy security
Project Outcome
Description of Outcome Increased access to a higher share of electricity generated from renewable energy sources
Progress Toward Outcome
Implementation Progress
Description of Project Outputs Installation of additional 3 units of BESSs with a preliminary capacity of the 3.0 MW and 12.0 MWh
Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location Nation-wide
Safeguard Categories
Environment B
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation
Responsible ADB Officer So, Eun young
Responsible ADB Department Pacific Department
Responsible ADB Division Transport, Energy and Natural Resources Division, PARD
Executing Agencies
Ministry of Finance & Economic Management
PO box 120
Cook Islands
Timetable
Concept Clearance -
Fact Finding 24 Apr 2017 to 28 Apr 2017
MRM -
Approval 21 Nov 2014
Last Review Mission -
Last PDS Update 23 Jan 2018

Grant 0415-COO

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
21 Nov 2014 13 Jan 2015 09 Feb 2015 31 Dec 2017 31 Dec 2019 -
Financing Plan Grant Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 13.09 Cumulative Contract Awards
ADB 0.00 21 Nov 2014 0.00 6.65 92%
Counterpart 5.83 Cumulative Disbursements
Cofinancing 7.26 21 Nov 2014 0.00 5.42 75%
Status of Covenants
Category Sector Safeguards Social Financial Economic Others
Rating - - - - - Satisfactory

Grant 0493-COO

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
29 Aug 2016 14 Sep 2016 18 Oct 2016 31 Dec 2019 - -
Financing Plan Grant Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 5.57 Cumulative Contract Awards
ADB 0.00 29 Aug 2016 0.00 3.45 81%
Counterpart 1.31 Cumulative Disbursements
Cofinancing 4.26 29 Aug 2016 0.00 2.76 65%
Status of Covenants
Category Sector Safeguards Social Financial Economic Others
Rating - - - - - Satisfactory

Grant 0548-COO

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
30 Oct 2017 20 Jun 2018 30 Jul 2018 30 Jun 2020 - -
Financing Plan Grant Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 13.80 Cumulative Contract Awards
ADB 0.00 30 Oct 2017 0.00 0.00 0%
Counterpart 1.80 Cumulative Disbursements
Cofinancing 12.00 30 Oct 2017 0.00 0.00 0%
Status of Covenants
Category Sector Safeguards Social Financial Economic Others
Rating - - - - - Satisfactory

Loan 3193-COO

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
21 Nov 2014 13 Jan 2015 09 Feb 2015 31 Dec 2017 31 Dec 2019 -
Financing Plan Loan Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 11.19 Cumulative Contract Awards
ADB 11.19 21 Nov 2014 7.62 0.00 85%
Counterpart 0.00 Cumulative Disbursements
Cofinancing 0.00 21 Nov 2014 5.91 0.00 66%
Status of Covenants
Category Sector Safeguards Social Financial Economic Others
Rating - - - - - Satisfactory

Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

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Tenders

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Procurement Plan

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