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EU supports Samoa Renewable Energy Dev. and Power Sector Rehabilitation

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Monday, 23 November 2015

EU supports Samoa Renewable Energy Dev. and Power Sector Rehabilitation

Samoa Renewable Energy Development and Power Sector Rehabilitation Project will receive additional combined co-financing of USD 7.55 million (EUR 7.04m) for the 680-kW Fuluasou small hydropower plant (HPP) on Upolu Island.mThe financing facility includes a USD-5.06-million and USD-2.49-million equivalent grants from the European Union (EU) and the Government of New Zealand, respectively. While the Asian Development Bank (ADB) will administer both grants, the Government of Samoa will also provide USD 1.21 million in counterpart support, the former said in a statement on Friday. “The funds will help boost the project which supports the government’s drive to reduce Samoa’s reliance on imported fossil fuels for power generation by providing clean and reliable electricity,” ADB Pacific Department energy specialist, Woo Yul Lee, said. At present, Samoa meets 60% of its electricity needs by means of diesel generators. The Fuluasou project aims to save roughly 3.6 million litres (951,000 gallons) of diesel annually. The current tranche boosts the overall investment in the HPP to USD 32.59 million, ADB calculates.

Source: See News