ADB, Partners Mark Start of Construction of Tina River Hydropower Project in Solomon Islands – EQ
In Short : The Asian Development Bank (ADB) and its partners have officially marked the start of construction for the Tina River Hydropower Project in the Solomon Islands. This project aims to provide renewable energy, reduce reliance on costly diesel power, and enhance the country’s energy security. Once completed, it will help lower carbon emissions and promote sustainable development in the region.
In Detail : HONIARA, SOLOMON ISLANDS — The Asian Development Bank (ADB) today joined project partners in Solomon Islands for a ceremony to mark the beginning of construction of the Tina River main dam structure.
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.
“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, Australian government, 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.
