Increasing Access to Renewable Energy Project (Additional Financing) under PREIF (ADB-49450-032)

Regions
  • East Asia and Pacific
Geographic location where the impacts of the investment may be experienced.
Countries
  • Tuvalu
Geographic location where the impacts of the investment may be experienced.
Specific Location
Funafuti
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)
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
Dec 8, 2023
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 Tuvalu
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • Energy
  • Transport
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 7.80 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.
Grant Amount (USD)
$ 7.80 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 Dec 23, 2023

Disclosed by Bank Sep 30, 2022

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

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.

As stated by the ADB, the project will build upon the ongoing Increasing Access to Renewable Energy Project with a view to increasing climate adaptation and resilience of energy infrastructure in Funafuti. The additional financing will finance (i) cost overruns for the original project; (ii) expansion in renewable energy capacity while addressing land-constraints through installation of climate-adapted floating solar photovoltaic, productive uses of energy and sustainable blue economy in Funafuti; and (iii) project management and implementation support and capacity building.

The proposed project will initiate and contribute to the transformation of the Tuvalu energy sector to one that is adapted to growing climate and natural hazards. It will do this by installing the innovative, climate-adapted and efficient floating PV (FPV) for power generation and for services and benefits beyond electricity to address the food-water-energy-climate-transport-environment nexus of challenges. FPV is an adaptive technology as it requires no dry land, it rises with rising sea levels, rides the waves and floats with the tides, and is, by design, protected from coastal erosion and from strong winds due to its flexible cables and mooring system. The project will also replace the battery energy storage systems in all outer islands for continued reliability and diesel fuel savings as well as achieve the near 100% renewable target for the entire country. To ensure holistic sustainability of the project and TEC, the project will also help resolve legacy issues in the operations, financial management, and tariff structure of TEC.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The ADB categorized the risks of the project as follows:

Environment B
Involuntary Resettlement C
Indigenous Peoples C
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

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.

ADB Team Leader:

Tiangco Cisneros Cinderella - Senior Energy Analyst

No contacts available at the time of disclosure.

Executing Agency - Ministry of Finance:

Phone: +688 20408
Website: www.mfed.tv

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.

How it works

How it works