FP036

Pacific Islands Renewable Energy Investment Program

Pacific Islands Renewable Energy Investment Program

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.

The project has an estimated lifespan of 15 years.

Total project value

 

Tonnes of emissions avoided

 

Beneficiaries

 

Direct
580,000
Theme

Cross-cutting

Result areas

Project timeline

Pipeline

12 Jul 2016 - 157 days

Concept note received

12 Jul 2016

Funding proposal received

01 Oct 2016

Approved

15 Dec 2016 - 579 days

Approved by GCF Board

15 Dec 2016

Cleared by iTAP

15 Dec 2016

FAA executed

18 May 2018

Under implementation

16 Jul 2018 - 588 days so far

FAA effective

16 Jul 2018

Disbursement - USD 4,900,000

12 Oct 2018

Legal opinion on AE's Internal Approval

21 Nov 2018

Annual Performance Report

28 Feb 2019

Disbursement - USD 9,600,000

26 Nov 2019

Completed

16 Jul 2025 - 1,971 days to go

One region

  • Asia-Pacific

Seven countries

One priority group

  • Small Island Developing States
USD  
  • Financing
    • Private sector
    • Public sector
  • Size
    • Micro
    • Small
    • Medium
    • Large

GCF financing56% disbursed

InstrumentAmount
GrantUSD 17,000,000

Cofinancing

CofinancerInstrumentAmount
Co-FinancingGrantUSD 5,000,000
Co-FinancingGrantUSD 4,000,000

GCF Project Team

General media inquiries

GCF Communications
Phone +82 32 458 7751
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Project complaints and grievances

GCF Independent Redress Mechanism (IRM)
Phone +82 32 458 6157
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Integrity issues

GCF Independent Integrity Unity (IIU)
Phone +82 32 458 6155
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