fbpx 52329-001: Pacific Renewable Energy Program | Asian Development Bank

Regional: Pacific Renewable Energy Program

Nonsovereign (Private) Project | 52329-001 Status: Approved

The Program will provide an umbrella facility to provide financing support including loans, guarantees and letters of credit, to overcome the constraints to private sector investment in renewable power projects in Pacific island countries.

Project Details

Project Officer
Burrell, Alix G. Private Sector Operations Department Request for information
Country
  • Regional
Sector
  • Energy
 
Project Name Pacific Renewable Energy Program
Project Number 52329-001
Borrower/Company
Country Regional
Cook Islands
Fiji
Micronesia, Federated States of
Kiribati
Nauru
Palau
Papua New Guinea
Marshall Islands
Samoa
Solomon Islands
Timor-Leste
Tonga
Tuvalu
Vanuatu
Location Cook Islands - Nation-wide; Fiji - Nation-wide; Kiribati - Nation-wide; Marshall Islands - Nation-wide; Micronesia, Federated States of - Nation-wide; Nauru - Nation-wide; Palau - Nation-wide; Papua New Guinea - Nation-wide; Samoa - Nation-wide; Solomon Islands - Nation-wide; Timor-Leste - Nation-wide; Tonga - Nation-wide; Tuvalu - Nation-wide; Vanuatu - Nation-wide
Type or Modality of Assistance
3784 Guarantee Ordinary capital resources USD 50.00 million Approved
3784 Loan Ordinary capital resources USD 50.00 million Approved
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Drivers of Change Private sector development
Sector / Subsector

Energy / Renewable energy generation - solar

Gender Equity and Mainstreaming No gender elements
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Infrastructure Finance Division 2
Responsible ADB Officer Burrell, Alix G.
Project Sponsor(s)
Description The Program will provide an umbrella facility to provide financing support including loans, guarantees and letters of credit, to overcome the constraints to private sector investment in renewable power projects in Pacific island countries.
Objectives and Scope
Linkage to Country/Regional Strategy

The development objective is to provide credit enhancement mechanisms to hedge against the key risks inherent in power projects in the PDMCs, which will increase private investment in the energy sector. The Program will help to (i) lower the cost of financing and encourage financing with longer tenors; (ii) attract new investors and lenders to the PDMCs, where they might not otherwise invest; (iii) generate financing opportunities for PSOD; and (iv) increase PSODs focus on frontier markets in accordance with ADBs Strategy 2030. The Program is aligned with the operational priorities of Strategy 2030 in tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability.

The additionality provided by ADB is in sourcing and using available grant funds for the PDMCs from ADBs development partners as a credit enhancement tool that will mobilize private sector financing. This will spur private sector development, help to reduce continued reliance of power utilities on grants and subsidies, and increase renewable energy supply. Technical assistance for projects under the Program will assist in strengthening governance and institutional capacity through building skills in financial sustainability, service delivery, transparent tender processes and E&S standards.

Safeguard Categories
Environment B
Involuntary Resettlement B
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects

Projects categorized as Category A for environment will not be included in the Program. Projects under the Program are anticipated to be Environment Category B.

Environmental and social due diligence will be carried out in accordance with ADB's Safeguard Policy Statement (2009) and social requirements. The IPPs will engage environmental and social experts to prepare environmental and social assessment reports and management plans for their projects, such as an Initial Environmental Examination report and Resettlement Plan (if required). An Environmental and Social Audit report to be filed by an external expert will assess the environmental, social, health and safety, and gender risks and impacts associated with the project in cases where the project involves land acquisition or resettlement. Recommended mitigation measures and monitoring requirements will be implemented under an environmental and social management plan. Gender mainstreaming will be evaluated and implemented where possible for specific projects under the Program.

Involuntary Resettlement Projects under the Program are anticipated to be Involuntary Resettlement Category B.
Indigenous Peoples Projects under the Program are anticipated to be Indigenous Peoples Category C.
Stakeholder Communication, Participation, and Consultation
Timetable for assistance design, processing and implementation
Concept Clearance 18 Mar 2019
Credit Committee Meeting 22 Mar 2019
Approval 17 Apr 2019
Last PDS Update 24 Apr 2019

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 Public Communications Policy (PCP) 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.

Title Document Type Document Date
Pacific Renewable Energy Program: Report and Recommendation of the President Reports and Recommendations of the President Mar 2019

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.

None currently available.

Evaluation Documents See also: Independent Evaluation

None currently available.

Related Publications

None currently available.


The Public Communications Policy (PCP) 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.