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

Sovereign Project | 49450-004

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

  • Project Officer
    Tiangco, Cinderella C.
    Pacific Department
    Request for information
  • Country/Economy
    Regional
  • Modality
  • Sector
    • Energy
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
Project Status Active
Project Type / Modality of Assistance Grant
Loan
Source of Funding / Amount
Grant 0001-REG: Pacific Renewable Energy and Energy Efficiency Investment Facility
Asian Development Fund US$ 80.00 million
Loan 0001-REG: Pacific Renewable Energy and Energy Efficiency Investment Facility
Concessional ordinary capital resources lending US$ 110.00 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
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 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 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.


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.

  • 06 Apr 2021 | Photo Essay

    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.

Tenders

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Contracts Awarded

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Procurement Plan

None currently available.