The World Bank Group has welcomed the signing of a series of key agreements which it says will deliver cheaper and more reliable, renewable energy to Solomon Islands through the Tina River Hydropower Project.
Tina River in Solomon Islands. Photo: Tina River Hydro Project
It said the project aimed to increase the amount of renewable energy in the national grid by nearly 70 percent while reducing reliance on expensive diesel power.
The hydropower project is Solomon Island's first large-scale infrastructure project to be developed as a public-private partnership with Korea's Water Resources Corporation and Hyundai.
The bank's International Development Association is loaning the Solomons government $US33 million for the project while Australia is providing US$12 million on top of $US7 million it granted for project preparations.
