$12 Million Grant For PV Project In Cook Islands

Solar+Storage Project In Cook Islands Secures $12 Million Additional Financing From Green Climate Fund
08:16 PM (Beijing Time) - 01. November 2017
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The 960 kW Rarotonga Airport Solar Power Project in Cook Islands is supported by the Asian Development Bank, which is co-financing more solar+storage projects for the island nation. (Photo Credit: Asian Development Bank)

Key Takeaways

  • The Green Climate Fund (GCF) has approved a grant of $12 million for a PV project in Cook Islands
  • This project is already being co-financed by the Asian Development Bank, European Union and the Government of Cook Islands
  • GCF grant will fund the installation of three units of a battery energy storage system with a preliminary capacity of 3 MW and 12 MWh
  • It will enable an additional 6 MW of solar PV capacity to be connected to the grid

A solar PV project in Cook Islands has secured $12 million as grant from the Green Climate Fund (GCF). The additional financing comes for the project which is already cofinanced by the Asian Development Bank (ADB), the European Union and the Government of Cook Islands.

Under the country’s Renewable Energy Sector Project, solar powered plants will come up on five of its islands. Before GCF, the co-financiers had approved financing for the project in October 2014. In 2016, it secured approval from the Global Environment Facility.

GCF grant will fund the installation of three units of a battery energy storage system with a preliminary capacity of 3 MW and 12 MWh. This will enable an additional 6 MW of solar PV capacity to be connected to the grid. The current project is expected to result in up to five solar PV power plants with batteries to store electricity from solar energy, rehabilitate the existing distribution network for phase 1 of the sub-projects, and provide institutional support to the government to develop the energy efficiency policy implementation plan.

The government is expected to use its funds for other needs of this project being financed through international lending agencies. It will help the region move closer to its goal of delivering renewable energy to all its islands by 2020.

Comprising 15 small islands in the South Pacific Ocean, Cook Islands depends on imported fuels to fulfil its electricity needs, with diesel-powered generators making up the lion’s share of total electricity generating capacity.

 

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani