Full Bleed Image Full Bleed Image

Single Project Single Project

Last updated

projectFP036

Pacific Islands Renewable Energy Investment Program

95550
TONNES of CO2 Anticipated tonnes of CO2 equivalent avoided

Impact

Mitigation & Adaptation
GCF results areas
  • Energy generation and access
  • Health, food and water security
  • Livelihoods of people and communities
  • Infrastructure and built environment
Gender benefits This project will disproportionally benefit women through improved household access to electricity and lower cost of electricity. Half of the beneficiaries are expected to be women. UN Sustainable Development Goal #7 Affordable and clean energy

Location & People

Region
  • Asia Pacific
Country
  • Cook Islands CK
Beneficiaries (approx.) 10,000

Investment Data

  • Financing:
    • Public
    • Private
  • Project size:
    • Micro
    • Small
    • Medium
    • Large
  • E&S Risk category:
    • Category A
    • Category B
    • Category C
Total project investment
GCF Financing
  • Instrument Grant USD
  • Years to pay 0  
  • Interest 0  
Co-Financing
  • ADB Grant USD
  • Government Grant USD

Project owners

Accredited Entity Executing Entity
  • Te Aponga Uira and Cook Islands
  • Asian Development Bank
Pacific Islands Renewable Energy Investment Program Approved December 2016 Duration 15.0 years
Helping free SIDS from their diesel dependence.

This programme covers seven Small Island Developing States (SIDS) which are some of the some of the world’s smallest, most isolated economies. They are the Cook Islands, Tonga, Republic of Marshall Islands, Federated States of Micronesia, Papua New Guinea, Nauru and Samoa. Power generation costs in these countries is among the highest because of their reliance on imported diesel, along with the high transportation costs from distributing the diesel to often highly dispersed populations.

All SIDS targeted in this programme recognize the benefits of shifting from diesel to renewable energy. This will lead to not only reduced greenhouse gas emissions but also enhanced energy security and improved balance of payments through reduced fossil fuel imports. But they also face various barriers in achieving this aim. This includes the high initial costs of installing renewable energy, the current lack of private sector investment and the pressing need for energy sector reforms.

This programme will initiate a number of paradigm-shifting moves across the seven SIDS. These include feasibility studies on how to expand renewable energy coverage, reform power utility management and encourage private sector engagement by identifying opportunities for independent power providers. Broad initiatives to move SIDS to renewable energy are being kicked off by an element within the programme to assist the Cook Islands install battery storage. This will help spur private sector investment to pave the way towards Cook Islands’ national target of 100 percent renewable energy by 2020.
Document title Published date
Funding proposal 25 Nov 2016
ESS report 30 Nov 2016
Accredited Entity
  • Asian Development Bank (ADB) Ms. Angelique Dawn A. Badelles Tel: +63-2-632-5704 Mr. Christian Ellermann Tel: +63-2-632-4564
^ Back to top