The Asian Development Bank is a providing the Government of Tuvalu with a $6 million grant to provide residents with modern, quality, reliable and affordable energy.
The grant will fund the country’s Increasing Access to Renewable Energy Project, which is designed to build a climate-resilient energy system by reducing reliance on fossil fuels.
Cambodia project provides Asia’s lowest energy tariff
Vietnam’s 1st, Southeast Asia’s largest floating solar project secures funding
Deal signed to meet $210bn annual green infrastructure investments needs
Through the project, Tuvalu has plans to reduce diesel generation and increase the renewable energy contribution from 15% to 32% in Funafuti and from around 70% to over 90% on Tuvalu’s outer islands.
The grant will fund the installation of solar photovoltaic systems in Funafuti, Nukufetau, Nukulaelae and Nui and a battery energy storage system in Funafuti. 35% of energy distributed to residents of Tuvalu during the day will be generated from renewables.
The grant will also be used to train staff of Tuvalu Electricity Corporation on renewable energy development and implementation.
Renewable energy is a hot topic disrupting the energy industry and is also set for discussion at the Asian Utility Week and POWERGEN Asia conference. Click here to register to attend and for more information about the event.
“The project is the first ADB-supported energy sector project in Tuvalu,” said the Director of ADB’s Pacific Energy Division Mr Olly Norojono. “It will increase the utilization of renewable energy in the country and reduce greenhouse gas emissions in the country’s power subsector.”
The grant is sourced from ADB’s Renewable Energy Investment Facility, which supports energy sector reforms in the smallest 11 Pacific island countries consisting of the Cook Islands, the Federated States of Micronesia, Kiribati, Nauru, Palau, the Marshall Islands, Samoa, Solomon Islands, Tonga, Tuvalu, and Vanuatu.