fbpx 49450-004: Pacific Renewable Energy Investment Facility (formerly Pacific Renewable Energy and Energy Efficiency Investment Facility) | Asian Development Bank

Regional: Pacific Renewable Energy Investment Facility (formerly Pacific Renewable Energy and Energy Efficiency Investment Facility)

Sovereign (Public) Project | 49450-004 Status: Approved

The Asian Development Bank is working with 11 small Pacific Island countries, whose combined population is less than 1.5 million, to develop small-value renewable energy projects. The facility supports investments in clean power systems, including solar, wind and hydropower, to help the islands' reduce their dependence on diesel-fuelled electricity generation, which is costly and undermines growth.

 
Project Name Pacific Renewable Energy Investment Facility (formerly Pacific Renewable Energy and Energy Efficiency Investment Facility)
Project Number 49450-004
Country Regional
Project Status Approved
Project Type / Modality of Assistance Grant
Loan
Source of Funding / Amount
Grant 0001-REG: Pacific Renewable Energy and Energy Efficiency Investment Facility
concessional ordinary capital resources lending / Asian Development Fund US$ 80.00 million
Loan 0001-REG: Pacific Renewable Energy Investment Facility (formerly Pacific Renewable Energy and Energy Efficiency Investment Facility)
Ordinary capital resources US$ 10.00 million
Loan 0001-REG: Pacific Renewable Energy and Energy Efficiency Investment Facility
concessional ordinary capital resources lending / Asian Development Fund US$ 110.00 million
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Regional integration
Drivers of Change Governance and capacity development
Knowledge solutions
Partnerships
Private sector development
Sector / Subsector

Energy / Energy sector development and institutional reform

Gender Equity and Mainstreaming 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.
Project Outcome
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
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation
Responsible ADB Officer Trainor, James Michael
Responsible ADB Department Pacific Department
Responsible ADB Division PAEN
Executing Agencies
Asian Development Bank
6 ADB Avenue,
Mandaluyong City 1550, Philippines
Timetable
Concept Clearance 24 Nov 2016
Fact Finding -
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.

The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.

In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.

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.

Evaluation Documents See also: Independent Evaluation

None currently available.

Related Publications

None currently available.


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.

Tenders

No tenders for this project were found.

Contracts Awarded

No contracts awarded for this project were found

Procurement Plan

None currently available.