Project Development Archives - Page 5 of 6

Tina River Hydropower Project reaches financial close

11/01/202516/12/2019 by Sarina Laurence

Financing packages for the Tina River Hydropower Development Project, estimated to reach US $240 million, have been finalised in Honiara. This major milestone for the 15-megawatt hydropower infrastructure project now clears the way for construction to commence late January 2020. Six financing organisations have come together to make the vision for clean renewable energy and more affordable electricity, a reality for the government and its people. The project is being financed through a combination of loans and grants; with a final cost for building the hydropower dam and station estimated at US$184 million. The total project cost is expected to reach …

The Tina River Hydropower Project is on track for a Royal visit

11/01/202519/11/2019 by Sarina Laurence

Tina River Hydropower Project on track for Royal visit

The serious environmental problems currently facing Solomon Islanders will be high on the agenda when His Royal Highness Prince of Wales Prince Charles makes his first-ever visit to the Solomon Islands on November 24th and 25th. In a two-day visit, Prince Charles will meet with Prime Minister Manasseh Sogavare and other leaders in Honiara who will discuss, amongst other things, the consequences of climate change on island life. With a focus on solutions for the future, the Solomon Islands Government (SIG) will brief his Royal Highness on their commitment to the reduction of greenhouse gas emissions through the Tina River …

Crucial final agreements signed for Tina River Hydropower Project

11/01/202504/10/2019 by Sarina Laurence

Signing of ADB financing Agreement Tina River Hydro Project

The Engineering Procurement and Construction (EPC) contract for the Tina River Hydropower Project has been signed between Tina Hydro Power Ltd (THL) and Hyundai Engineering Company Ltd (HEC) on the 30 September 2019 in Honiara, Solomon Islands. The Engineering Procurement and Construction (EPC) contract for the Tina River Hydropower Project has been signed between Tina Hydro Power Ltd (THL) and Hyundai Engineering Company Ltd (HEC) on the 30th of September 2019 in Honiara, Solomon Islands. This is the latest key signing which follows the signing of the On-lending Agreement between THL and the Ministry of Finance and Treasury (MOFT), the …

TRHDP Development Consent Granted

11/01/202529/07/2019 by Sarina Laurence

On 25th July 2019, the Director of Environment and Conservation Division (ECD) under Ministry of Environment, Climate Change, Disaster Management and Meteorology (MECDM) approved Tina Hydropower Limited’s (THL’s) Development Application for the Tina River Hydropower Development Project (TRHDP) and granted THL the Development Consent under section 22 and 24 of the Environment Act 1998, to undertake the development of TRHDP. The development consent is applicable for component 1 and 2 of TRHDP that comprise the construction of access roads and main project works including dam, reservoir, power station and tunnel. The development consent outlines several conditions including those prescribed in …

GREEN Climate Fund (GCF) will soon release USD$86 million for the Tina Hydro Project

11/01/202517/11/2017 by Sarina Laurence

GREEN Climate Fund (GCF) will soon release USD$86 million (SBD$669,010,391.46) for the much-awaited Tina Hydro Project in central Guadalcanal. This followed the signing of an Accreditation Master Agreement (AMA) between GCF and the World Bank, Monday, on the margins of the 23rd climate change summit currently underway in Bonn, Germany. “The signing of the AMA opens the way for GCF to transfer its funding support to Tina Hydro Project in Solomon Islands.” GCF Executive Director Howard Bamsey. “The GCF and the World Bank share an understanding about the vital need to finance innovative infrastructure and clean technologies in developing countries …

Energy Minister Confirms Tina Agreements in 2017

11/01/202515/11/2017 by Sarina Laurence

Minister for Energy, Honourable Bradley Tovosia has confirmed the government’s intention to ensure that the key Tina Hydro project agreements are concluded in 2017. He made these commitments during a series of high-level meetings with project funders and partners in Korea during early October. During his visit, Minister Tovosia met with senior officials of the Green Climate Fund (GCF) Secretariat as well as the Executive Director of the Korean Economic Development Cooperation Fund (EDCF). GCF and EDCF are two major funders of Tina Hydro, together with the World Bank, Government of Australia and IRENA. ADB is anticipated to be another …

Renewable energy a step closer for Solomon Islands as World Bank Group approves support to Tina River Hydro

11/01/202515/08/2017 by Sarina Laurence

US$33.6 million approved towards major renewable energy project in Pacific nation burdened with some of the world’s highest electricity costs Reliable renewable energy is a step closer for Solomon Islands, a country facing some of the world’s highest per capita energy costs, following the World Bank Group’s commitment to the Tina River Hydro renewable energy project. The Board of Executive Directors of the World Bank today approved US$33.6 million in funding for the Tina River Hydropower project in the Solomon Islands, which aims to reduce the cost of electricity and end the country’s near-total reliance on diesel fuel for power. …

Team of Korean Technical Experts on Planning Mission in Honiara for Tina Hydro (August 2017)

11/01/202511/08/2017 by Sarina Laurence

A large team of technical experts from Kwater Corporation and Hyundai Engineering (HEC) is currently in the country to progress engineering planning for the Tina Hydro Project. Kwater and HEC are the developers selected by Solomon Islands Government through an international tender process held in 2015. The team will be involved in analysing the network and current powerhouse of Solomon Power as well as other engineering details of the Tina Hydro Project. The team has made a technical visit to the water resources and seismology division of Ministry of Mines, Energy and Rural Electrification (MMERE). The team also made a …

Korea commits US$31.6 million for Tina River Hydro

11/01/202509/08/2017 by Sarina Laurence

Reliable renewable energy is another step closer for Solomon Islands with the Tina River Hydro Development Project receiving a commitment of $31.6 million in funding support the Government of Korea. This funding from Economic Development Cooperation Fund (EDCF) was approved by the Ministry of Strategy and Finance of Korea. The US$31.6 million is a loan to the Solomon Islands Government and will go towards the debt financing of a Project Company. The EDCF is the Korean Government’s fund for promoting economic development in developing countries and its contribution will support the construction of the Tina hydropower facility. Tina River Hydro …

Australia commits AUD 17 million for the Tina River Hydro Project

11/01/202518/06/2017 by Sarina Laurence

Solomon Islands is one step closer to cheaper and more reliable electricity that will boost business activity and improve people’s lives. Australian Minister for International Development and the Pacific, Senator the Hon Concetta Fierravanti-Wells announced today that Australia has committed up to AUD 17 million for the Tina River Hydropower Development Project (Tina River Hydro). Australia will support the construction of the access road to the project site in East Guadalcanal and technical assistance for the Solomon Islands Government to manage the project’s implementation. “Australia is proud to support this major nation-building project,” Minister Fierravanti-Wells said, “Tina River Hydro has …

NIPS Welcomes GCF Grant Approval for Tina River Hydro Development Project

11/01/202501/05/2017 by Sarina Laurence

The Network of Indigenous Peoples Solomons, (NIPS) welcomes the Green Climate Fund’s approval of USD86m for the Tina River Hydro Development Project recently in Sondong, South Korea. Vice President and Coordinator of NIPs, Ms Aydah Gwaena Akao, who was part of the delegation says this is a milestone for Small Island Developing States and especially the Pacific region. “What has transpired so far in the Tina River Hydro Project is the good work between indigenous land owners and community leaders; Tina River Hydro project Team; Provincial Government; National Government through the Ministries of Environment, Climate Change, Disaster Management and Meteorology, …

Green Climate Fund approves US$86 Million for Tina River Hydro Development Project in Solomon Islands

11/01/202511/04/2017 by Sarina Laurence

Significantly reduced electricity costs are one step closer with the approval of US$86 million by the board of the Green Climate Fund for the Tina River Hydropower Project. The funding approval was made in a meeting of the Fund’s board at its headquarters in Songdo, South Korea this week. Of the GCF funding, US$70 million is a low-interest loan towards the cost of building the hydro power facility, while US$16 million is grant contribution for the construction of the key access road that will link the power house and the hydropower facility to the capital city Honiara. The Green Climate …

International Renewable Energy Agency awards concessional loan for Tina Hydro

11/01/202507/01/2017 by Sarina Laurence

Solomon Islands has been awarded a USD15 million concessional loan for Tina Hydro Project by the International Renewable Energy Agency, IRENA. The award was announced during IRENA’s 2017 Assembly in Abu Dhabi last weekend. It is the first concessional loan to be approved in support to Tina Hydro, which is the largest renewable energy project ever in Solomon Islands and the largest renewable project currently being developed in the Pacific. The Tina Hydro will provide access to renewable energy for more than 100,000 people in the greater Honiara region and has been under preparation since 2011 with donor support primarily …

Tina Hydro Office Briefs Environment and NGO Officials

11/01/202526/10/2016 by Sarina Laurence

The Tina Hydro Project Office on Thursday this week highlighted critical issues about the Environment and Social Impact Assessment Report to officials of the Environment division and representatives of the non government organisations in the country. Issues highlighted included the critical habitats and natural habitats; endangered and endemic species; water and downstream effects; reduced flow region; aquatic migratory species; workers and movements; and lands and compensations. A media statement from the Project Office said the presentation also highlighted the implementation of mitigation measures which will include contractual arrangements, reporting and implementation oversight. On the question of how tambu and cultural …

Tina Hydro on track to signing a development agreement in 2016

11/01/202512/02/2016 by Sarina Laurence

Tina River Hydro is on track for the signing of a power purchase agreement in 2016. This was confirmed by Hon. David Day Pacha, Minister responsible for Energy and Rural Electrification today in a brief update on the Project. “Tina River Hydro is the single most important project for renewable energy in my portfolio, and I am pleased to confirm that timely progress is being made on the key work streams towards project implementation”. “Technical workstreams are proceeding to schedule, with the final detailed design nearing completion, for submission to the Government in early March. There have been several engineering …

GPRCL shares business experience with Roha members

11/01/202526/11/2015 by Sarina Laurence

The spin-off businesses being enjoyed by members of the Guadalcanal Plains Resources Development Company Ltd, GPRCL, are inspiring and should be emulated. These were the words of Daniel Una, tribal chief of Roha in Central Guadalcanal. He stressed he and his members were greatly inspired by the short talk given by the Deputy Board Chairman of the GPRDCL James Votaia on Wednesday this week in Honiara.Roha is one of the five tribes that jointly hold the core land of the Tina River Hydro Development Project with Solomon Islands Government. Roha tribe accepted the Offer of Compensation from the Commissioner of …

Korean Water, Single Bidder for Tina Hydro

11/01/202526/09/2015 by Sarina Laurence

The Solomon Islands Government is now preparing to engage with Korean Water (K-Water) for the development of the Tina River Hydropower Project (TRHDP) in Central Guadalcanal. K-Water was engaged after an international tender process conducted by the International Finance Corporation, IFC, ended at the beginning of 2015.Prime Minister Hon Manasseh Sogavare was updated on Monday this week about the turnout of the bids for this significant project by a five member delegation comprising International Financial Corporation officials, Shobana Venkataraman and Deveshta Ratnanayagam, World Bank Country Director, Anne Tully, Tina Hydro Project Manager, Mark France and his deputy, Fred Conning. Ms …

Investors briefed – TRHDP Tender Heads Internationally

11/01/202523/09/2015 by Sarina Laurence

Eight potential investors who’ve expressed interest in building and operating the Tina River Hydro Project took part in a major project briefing in Honiara, last week. The companies participating in the event were from Australia, New Zealand, Korea, Japan, Malaysia, Spain and Sri Lanka. The investor’s forum marked the closing of an Expression of Interest (EOI), part of the International Competitive Tender process seeking Developers for the Tina Hydro Project. The ICT is a transparent process managed by the International Financial Corporation as Financial Transaction Advisors to the Solomon Islands Government on the Tina Hydro Project. Over 100 international companies, …

We Support Tina Hydro: Kikolo

11/01/202523/09/2015 by Sarina Laurence

A representative of the Managikiki Community in Bahomea, Central Guadalcanal, says latest activities of the Tina River Hydro project within their communities are very encouraging. Chief Whitlam Kikolo, former chairman of the Bahomea House of Chiefs and strong supporter of the Tina Hydro Project, says road surveys being undertaken now show the project is indeed moving to fruition. “We have seen surveyors moving up and down among communities conducting surveys on the access road so we are once again assured the Tina Hydro project is indeed coming along,” he said. Chief Kikolo said members of the communities have been telling …

Tina Signals New Future

11/01/202510/07/2014 by Sarina Laurence

Tina signals a new future for sustainable development in Solomon Islands: PMThe progress of Tina Hydro Project signals a new future for sustainable development in Solomon Islands. The Prime Minister made this statement following the signing of a Process Agreement by customary land owning tribes whose land will be used for the Tina Hydro Project. “The government takes great encouragement from the unprecedented progress of Tina Hydro. We see its success pointing to the beginning of a new era in sustainable development in the country” stated PM Lilo. He went on to pledge the government’s full support towards the project. …