Renewable Energy Sector Project - Additional Financing (ADB-49450-005)

Countries
  • Cook Islands
Geographic location where the impacts of the investment may be experienced.
Specific Location
Cook Islands
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Asian Development Bank (ADB)
  • Green Climate Fund (GCF)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Oct 30, 2017
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Cook Islands
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Project Cost (USD)
$ 12.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ ADB website

Updated in EWS Jul 29, 2020

Disclosed by Bank Nov 2, 2017

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The proposed second additional financing will leverage battery storage to facilitate expansion of solar PV-based generation systems in Rarotonga, thereby helping reduce fossil fuel consumption and enhance the level of energy security on the island. The additional GCF grant, with the additional contribution from the government of $1.71 million, will increase the overall project investment from the current $29.85 million to $43.56 million.

The Project has two outputs: (i) two-phased construction of solar photovoltaic (PV) power and/or energy storage systems on Mangaia, Mitiaro, Mauke and Atiu (Phase 1), Rarotonga and Aitutaki (Phase 2); and (ii) to provide institutional strengthening to the Cook Islands Renewable Energy Development Division (REDD). The Phase 1 subprojects will install a total of 1,246 kW of solar PV systems with battery storage. The systems at Mitiaro and Mauke will include new high speed diesel generators whilst the more modern existing diesel power stations on Mangaia and Atiu will be retained. The upgrade of the electricity distribution system is also included for all but the Atiu subproject. The Phase 2 subprojects include the installation of an additional 1,000 kW solar PV system on Aitutaki together with a new 300 kW high speed diesel and battery storage. On Rarotonga, it is the initial installation of a 1 MW, 4 MWh Battery Energy Storage System (BESS) to be complemented by a second stage of additional battery storage (R-ESS-2) with a capacity of 3 MW / 12 MWh.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Funded by Green Climate Fund


Contact Information
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Ministry of Finance & Economic Management
PO box 120
Cook Islands

ACCESS TO INFORMATION

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ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main

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