ADB, GCF and Aussie govt grant USD 44.6m for renewables in Tonga

The Asian Development Bank (ADB) has signed off on three agreements for USD 44.6 million (EUR 40m) of grants to support the development and implementation of renewable energy projects in Tonga, the bank announced on Friday.

Focused on enhancing the country’s energy security and reducing carbon emissions, the loan is co-supported by the Green Climate Fund (GCF) and the government of Australia.

Specifically, the money will be used for the Tonga Renewable Energy Project, which will help improve the energy security and access of people in the outer islands of Eua, Vava’u, O’ua, Tungua, Kotu, Mo’unga’one and Niuafo’ou, ADB pointed out.

In addition to power generation plants, the initiative will provide technical solutions such as battery energy storage systems in order to promote private sector investments in the island nation's renewable energy sector.

(USD 1 = EUR 0.898)

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