Regional : Pacific Renewable Energy Investment Facility (formerly Pacific Renewable Energy and Energy Efficiency Investment Facility)
The majority of Pacific Small Island Developing States (SIDS) are heavily dependent on diesel for power generation which has resulted in high electricity tariffs. The average supply cost for electricity across the Pacific is about $0.45/kilo-watt hour (kWh), which is high by international standards. The high cost of electricity is negatively impacting economic growth. Over reliance on imported fuel also depletes limited foreign reserves and exposes the SIDS economies to diesel price spikes. The proposed investment facility in renewable energy will target eleven smaller Pacific SIDS. Ten of the participating SIDS, except for Solomon Islands, are among the world's 25 smallest countries by population size. Total population of the eleven countries is less than 1.5 million.
Project Details
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Project Officer
Tiangco, Cinderella C.
Pacific Department
Request for information -
Country/Economy
Regional -
Modality
-
Sector
- Energy
Related Projects
| Project Name | Pacific Renewable Energy Investment Facility (formerly Pacific Renewable Energy and Energy Efficiency Investment Facility) | ||||||||||||
| Project Number | 49450-004 | ||||||||||||
| Country / Economy | Regional Cook Islands Fiji Micronesia, Federated States of Kiribati Nauru Marshall Islands Samoa Solomon Islands Tonga Tuvalu Vanuatu |
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| Project Status | Active | ||||||||||||
| Project Type / Modality of Assistance | Grant Loan |
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| Source of Funding / Amount |
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| Strategic Agendas | Environmentally sustainable growth Inclusive economic growth Regional integration |
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| Drivers of Change | Governance and capacity development Knowledge solutions Partnerships Private sector development |
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| Sector / Subsector | Energy / Energy sector development and institutional reform |
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| Gender | No gender elements | ||||||||||||
| Description | The majority of Pacific Small Island Developing States (SIDS) are heavily dependent on diesel for power generation which has resulted in high electricity tariffs. The average supply cost for electricity across the Pacific is about $0.45/kilo-watt hour (kWh), which is high by international standards. The high cost of electricity is negatively impacting economic growth. Over reliance on imported fuel also depletes limited foreign reserves and exposes the SIDS economies to diesel price spikes. The proposed investment facility in renewable energy will target eleven smaller Pacific SIDS. Ten of the participating SIDS, except for Solomon Islands, are among the world's 25 smallest countries by population size. Total population of the eleven countries is less than 1.5 million. | ||||||||||||
| Project Rationale and Linkage to Country/Regional Strategy | Pacific SIDS have recognized the need to structurally shift power generation from diesel to renewable energy and all have aggressive national renewable energy targets, in some cases of up to 100%. The SIDS are endowed with cost-competitive renewable energy resources. However, the lack of access to adequate funding has limited the uptake of renewable energy. In order to fill the financing gap, Pacific SIDS are attracting independent power providers to invest in the sector amid significant barriers to entry of the private sector. Additionally, Pacific SIDS face significant capacity barriers to plan, design, implement and manage renewable energy investments. Continuous sector reform is also required to encourage the structural shift. | ||||||||||||
| Impact | Improved regional energy security in the Pacific. |
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| Project Outcome | |
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| Description of Outcome | Increased generation of lower cost, reliable, and clean energy |
| Progress Toward Outcome | |
| Implementation Progress | |
| Description of Project Outputs | Renewable energy generation plants put into operation by Pacific SIDS Transmission and distribution constructed or rehabilitated by Pacific SIDS Efficiency of X diesel power systems improved by Pacific SIDS Energy sector reform undertaken in seven Pacific SIDS |
| Status of Implementation Progress (Outputs, Activities, and Issues) | |
| Geographical Location | Regional |
| Safeguard Categories | |
|---|---|
| Environment | B |
| Involuntary Resettlement | B |
| Indigenous Peoples | A |
| Summary of Environmental and Social Aspects | |
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| Environmental Aspects | |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Stakeholder Communication, Participation, and Consultation | |
| During Project Design | |
| During Project Implementation | |
| Responsible ADB Officer | Tiangco, Cinderella C. |
| Responsible ADB Department | Pacific Department |
| Responsible ADB Division | Energy Division, PARD |
| Executing Agencies |
Asian Development Bank |
| Timetable | |
|---|---|
| Concept Clearance | 24 Nov 2016 |
| Fact Finding | 18 Oct 2016 to 18 Oct 2016 |
| MRM | 28 Apr 2017 |
| Approval | 22 Jun 2017 |
| Last Review Mission | - |
| Last PDS Update | 29 Sep 2017 |
Loan 0001-REG
| Financing Plan | Loan Utilization | ||||
|---|---|---|---|---|---|
| Total (Amount in US$ million) | Date | ADB | Others | Net Percentage | |
| Project Cost | 200.00 | Cumulative Contract Awards | |||
| ADB | 200.00 | - | 0.00 | 0.00 | % |
| Counterpart | 0.00 | Cumulative Disbursements | |||
| Cofinancing | 0.00 | - | 0.00 | 0.00 | % |
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.
The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
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| Title | Document Type | Document Date |
|---|---|---|
| Pacific Renewable Energy Investment Facility Interim Review Report | Documents Produced Under Grant/Loans/TA | Sep 2020 |
| Pacific Renewable Energy Investment Facility: Report and Recommendation of the President | Reports and Recommendations of the President | May 2017 |
| Pacific Renewable Energy Investment Facility: Project Preparatory Technical Assistance Report | Project Preparatory Technical Assistance Reports | Nov 2016 |
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
| Title | Document Type | Document Date |
|---|---|---|
| Pacific Renewable Energy Investment Facility - Cook Islands: Rarotonga Battery Storage Supply Systems Initial Environmental Examination | Initial Environmental Examination | Oct 2016 |
| Pacific Renewable Energy Investment Facility - Cook Islands: Rarotonga Battery Storage Supply Systems Resettlement Due Diligence Report | Safeguards Due Diligence Reports | Sep 2016 |
Evaluation Documents See also: Independent Evaluation
None currently available.
Related Publications
| Title | Document Type | Document Date |
|---|---|---|
| Pacific Renewable Energy Investment Facility Annual Report (January-December 2022) | Statutory Reports and Official Records | Aug 2023 |
| Pacific Renewable Energy Investment Facility Annual Report (January-December 2021) | Statutory Reports and Official Records | Jul 2022 |
| Pacific Renewable Energy Investment Facility Annual Report 2020 | Statutory Reports and Official Records | Apr 2021 |
| Pacific Renewable Energy Investment Facility Annual Report 2019 | Statutory Reports and Official Records | Apr 2020 |
The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
Requests for information may also be directed to the InfoUnit.
How ADB is Helping Power the Pacific
In the Pacific, power is life. Reliable electricity allows hospitals to conduct life-saving surgery, keeps food and medicine fresh and sanitary, and keeps street lights on to make neighborhoods and communities safer.
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Procurement Plan
None currently available.