While global targets on ensuring access to affordable, reliable energy for all under the Sustainable Development Goals are unlikely to be met by 2030, take-up of renewables is on track.
And while a number of Pacific Island nations are struggling to meet their goals, there is progress.
Niue
Work is underway on the second phase of the Niue Renewable Energy Project, which aims to enable Niue to generate 80% of its power from renewable sources by December 2025.
The new power station will be funded by Australia and New Zealand.
Earlier this year, New Zealand Prime Minister Christopher Luxon announced a NZ$20.5 million investment in renewable energy initiatives. He said the new energy project will begin in the first quarter of 2025 and be commissioned by the end of next year if work runs as scheduled.
Solomon Islands
The Asian Development Bank (ADB) is one of the major players in renewables finance and projects in our region and its representatives signed agreements with Solomon Islands and Tonga on the sidelines of COP29 in November.
Solomon Islands will take a US$10 million concessional loan and a US$5million grant to help fund the Solomon Islands Renewable Energy Development Project. The Saudi Fund for Development is co-financing the project with a commitment of US$10 million.
The project will implement solar farms in Guadalcanal and Malaita province with a total capacity of 2.5 megawatts, install Solomon Islands’ first utility-scale grid-connected battery energy storage system for grid integration of more renewable energy, support power sector reforms, and help create the enabling environment for more private sector participation and investment into renewable energy.
Tonga
Meanwhile, the ADB rep and Tonga’s Minister of Finance, Revenue and Customs signed grant agreements of US$4.6 million at COP29. The ADB provided US$1 million.
Co-financing includes US$1.5 million from the Clean Energy Fund (International Climate Initiative of the German government) and US$2.1 million from the European Union. Australia will provide grant financing equivalent to US$5.6 million, which will be provided as budget support directly to the Ministry of Finance of Tonga to jointly finance expenditures in relation to procurement of goods and works.
The work will seek to help Tonga meet its 70% renewable energy target by constructing a new 33 kilovolt (kV) electricity network to evacuate energy from a solar power plant and upgrading a portion of the existing 11kV network.
Federated States of Micronesia and Palau
In FSM, the ADB has signed an agreement to explore renewable options for its islands and to consider public private partnerships (PPPs) to finance these developments.
This follows Palau’s PPP model, which involved financing from Export Finance Australia (US$18 million loan), the Department of Foreign Affairs and Trade Australia (US$4 million grant) and two private sector investors – Solar Pacific and Sant Charitable Foundation providing US$8 million equity to build what is reportedly the largest solar project in the Western Pacific.
Commissioned last year, that project supplies 20% of all Palau’s energy.
Fiji
Fiji’s Minister for Public Works, Transport and Meteorological Services, Ro Filipe Tuisawau told a COP29 side event that 55% of the country’s electricity already comes from renewable sources, primarily hydropower.
“Fiji is also exploring innovative solutions like floating solar on hydropower dams, which will help conserve water and increase energy supply,” he said.
Samoa
Finally, the ADB has approved support for a US$111 million project that will address the cross-cutting climate adaptation challenges of flood risk management, sustainable and reliable water supply, and renewable energy security. The project will support construction of a multipurpose dam with a run-of-river small hydropower plant.
