Tonga Renewable Energy Project under the Pacific Islands Renewable Energy Investment Program (GCF-FP090)

Countries
  • Tonga
Where the impacts of the investment may be experienced.
Financial Institutions
  • 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
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
Oct 1, 2018
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
Asian Development Bank, 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)
$ 29.90 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)
$ 29.90 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)
$ 53.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ GCF website

Updated in EWS Jul 29, 2020


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Project Description

According to the bank document, the impact of the project will be a transformational shift away from the traditional reliance on fossil fuels toward a greater emphasis on climate-resilient renewable energy systems coupled with battery energy storage system (BESS) and reduced GHG emissions as well as promotion of more private section investments into renewable energy development.

Investment Description
  • Green Climate Fund (GCF)

Co-Financing

  • Tonga Power Limited Grant USD 3.0 m
  • Government of Australia Grant USD 2.5 m
  • Asian Development Bank Grant USD 12.2 m
  • Government of Tonga   USD 5.6 m
Contact Information

Asian Development Bank (ADB)
Mr. Saad Paracha Tel: +63-2-632-4474
Mr. Christian Ellermann Tel: +63-2-632-4564

NDA/FP in Tonga
Ministry for Metereology, Energy, Information, Disaster Management, Environment, Climate Change and Communications (MEIDECC)
Mr. Paula Pouvalu Ma’u
paulm@mic.gov.to
Work: +676 28170

ACCESS TO INFORMATION

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