Renewable Energy Project (ADB-49450-012)

Countries
  • Tonga
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 11, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Tonga
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 12.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Grant Amount (USD)
$ 44.60 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 44.60 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Mar 28, 2019

Disclosed by Bank Mar 14, 2019


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Project Description

According to the bank website, "this proposed Tonga Renewable Energy Project (TREP) is the second project to be submitted under the Pacific Islands Renewable Energy Investment Program (PIREIP, FP036). PIREIP will help seven Pacific island countries transition to a renewable energy future. PIREIP's objective is to transform energy use and electricity production sectors across the Pacific to low carbon, climate resilient pathways. PIREIP's outcome will be expanded access to clean, resilient and affordable energy."

Investment Description
  • Asian Development Bank (ADB)

Green Climate Fund (Grant) US$ 29.9 million

Government of Australia (Grant) US$ 2.5 million

Contact Information

Responsible ADB Officer Lee, Woo Yul
Responsible ADB Department Pacific Department
Responsible ADB Division PAEN
Executing Agencies
Ministry of Finance and National Planning
Vuna Road
Nuku'alofa

Kingdom of Tonga Ministry of Meteorology, Energy, Information, Disaster Management, Environment, Climate Change, and Communications (MEIDECC)
OG Sanft Building Corner of Taufa'ahau
Road and Wellington Road, Nuku'alofa,

Tonga Tonga Power Limited
P.O. Box 429, Nuku'alofa, Tonga

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