Key agreements signed in Tina River Hydropower Project deal

The World Bank Group has welcomed the signing of a series of key agreements which will help deliver cheaper and more reliable renewable energy to Solomon Islands through the Tina River Hydropower Project.

The project aims to raise the amount of renewable energy in the Honiara national grid by almost 70% while also reducing reliance on diesel power.

The International Finance Corporation is transaction adviser to the government of the Solomon Islands. The project is the Solomon Islands' first large scale infrastructure project to be developed as a public-private partnership.

Korea Water Resources Corporation and Hyundai Engineering Corporation are the project's private developers.