The Asian Development Bank (ADB) today joined project partners in the Solomon Islands for a ceremony to mark the beginning of construction of the Tina River main dam structure.
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Solomon Islands Prime Minister Jeremiah Manele led the commissioning ceremony. He was joined by ADB Director General for the Pacific Leah Gutierrez, World Bank Country Director for Papua New Guinea and the Pacific Islands Stephen Ndegwa, Australia’s High Commissioner to Solomon Islands Rod Hilton, other senior government officials, and representatives from Korea Water Resources Corporation, Hyundai Engineering Corporation Limited, and Tina Hydropower Limited.
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“This transformational project will support the development of renewable energy to supply electricity to the capital, Honiara,” said Ms. Gutierrez. “This project is a testament to the power of partnerships that has prioritized climate change action, sustainability, and community development.”
The 15-megawatt hydropower plant will be developed on the Tina River, just outside Honiara, which will reduce the country’s reliance on imported fossil fuels.
Tina Hydropower Limited, a special project company, consisting of Korea Water Resources Corporation and Hyundai Engineering Corporation Limited, implements the project through a build-operate-own-transfer scheme.
ADB supports the project with a $18 million loan from its concessional ordinary capital resources and a $12 million grant from the Asian Development Fund, which provides grants to ADB’s poorest and most vulnerable developing member countries.
Other project partners include the Abu Dhabi Development Fund, the Australian government, the Export-Import Bank of Korea, and the Green Climate Fund.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members—49 from the region.
About ADB
ADB’s vision is to achieve a prosperous, inclusive, resilient, and sustainable Asia and Pacific while sustaining its efforts to eradicate extreme poverty. Despite the region’s many successes, 1 in 3 people still live under $3.20 a day – that’s 1.24 billion people. ADB will continue to prioritize the region’s poorest and most vulnerable countries.
Established in 1966, ADB is owned by 68 members, including 48 from the region. Its main instruments for helping its developing member countries are policy dialogue, loans, equity investments, guarantees, grants, and technical assistance.
