Preparing Floating Solar Plus Projects under the Pacific Renewable Energy Investment Facility (ADB-49450-028)

Regions
  • East Asia and Pacific
Geographic location where the impacts of the investment may be experienced.
Countries
  • Cook Islands
  • Kiribati
  • Marshall Islands
  • Micronesia
  • Nauru
  • Palau
  • Samoa
  • Solomon Islands
  • Tonga
  • Tuvalu
  • Vanuatu
Geographic location 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
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
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
Dec 15, 2020
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.
Sectors
  • Energy
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Fund
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 2.00 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 Feb 10, 2021

Disclosed by Bank Dec 15, 2020

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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.

According to the bank's website, "The proposed transaction technical assistance (TA) facility will assess the potential and feasibility, develop a roadmap, and build institutional capacity to deploy floating photovoltaic (FPV) projects in the 11 small Pacific island countries (PIC-11). The TA will also conduct all required due diligence and assist in procurement for the first three FPV projects for approval in 2022-2023 under the Pacific Renewable Energy Investment Facility (facility). The TA will also conduct pre-feasibility studies for the next three FPV projects for potential ADB and private sector financing. It will develop a roadmap with a pipeline of FPV projects in the PIC-11 to address vulnerabilities and needs, considering current energy sector plans and strategies, interventions and utility reforms, and include demand-side management and efficiency measures as well as value-added end-uses beyond electricity."

 

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

Asian Clean Energy Fund under the Clean Energy Financing Partnership Facility


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Responsible ADB Officer Tiangco, Cinderella C.
Responsible ADB Department Pacific Department
Responsible ADB Division PAEN

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

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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How it works