
The Asian Development Bank (ADB) has approved a loan of up to US$2 million to develop solar projects in Samoa.
The ADB-administered Canadian Climate Fund for the Private Sector in Asia will provide an additional US$1 million concessional loan and also a preparatory technical assistance grant to help overcome any early-stage barriers to developing PV in the region.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
Using the financing, Jarcon Pty and Sun Pacific Energy (SPEL) will expand a 2.2MW solar farm in Samoa that is in partial operation to up to 4MW. The project sells power to Samoa’s state-owned utility Electric Power Corporation.
Construction of the expansion is expected to start this month.
“Renewable energy sources are vital for Samoa’s efforts to achieve sustainable and inclusive development,” said Jackie Surtani, director for ADB’s private sector operations department (PSOD). “The project will increase access to affordable clean energy for the people of Samoa.”
“We hope this deal will demonstrate to private sector investors that developing bankable renewable energy projects in the Pacific can be achieved,” added Martina Tonizzo, ADB’s investment specialist.