World Bank approves renewable energy project in Solomon Island
The World Bank has approved the Electricity Access and Renewable Energy Expansion Project in the Solomon Islands, which includes new or improved electricity services, including renewable energy sources such as solar.
The $19.95 million project will support the Solomon Islands' government to increase its renewable energy generation capacity, while boosting access to grid-supplied electricity and reducing reliance on imported fossil fuels.
The project will receive the fund through a $5.5 million credit, and a $4.75 million grant from the International Development Association. Additionally, a $7.1 million grant will be offered by the Strategic Climate Fund - Scaling-Up Renewable Energy in Low Income Countries Program, a $946,750 grant will come from the Global Environment Facility, and a $1.6 million grant from the Small Island Developing States Initiative.
