New Zealand to finance 1 MW PV solar project in Tonga - report

Sep 7, 2011 - New Zealand will pour NZD 7.9 million (USD 6.5m/EUR 4.7m) to finance the construction of a one-megawatt photovoltaic (PV) solar plant in Tonga, solar industry portal Solarbuzz reported yesterday.

A public-private partnership including New Zealand's state-owned power utility Meridian Energy Ltd, Tonga Power Ltd and Tongan government will carry out the project.

The project's construction is seen to commence by the end of the year. When operational, the plant will produce electricity enough to meet 4% of the annual needs of Tongatapu and offset the use of 470,000 litres of diesel a year, according to the website.

(NZD 1.0 = USD 0.829/EUR 0.589)

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