Babeldaob solar plant & battery storage system

active

Prospective

The project involves the construction of a 15.28MWp solar PV power plant and 10.2MWac / 12.9MWh battery energy storage system at Ngatpang on Babeldaob, the largest island in the Republic of Palau, Micronesia. The solar power plant is anticipated to deliver up to 23,000 MWh per year to the Palau Public Utilities Corporation's grid network, providing approximately 20% of Palau’s power needs. The sponsor is Solar Pacific Pristine Power Inc, a subsidiary of Solar Pacific, which is part of the Alternergy group. The Australian Infrastructure Financing Facility for the Pacific (AIFFP) - a A$2 billion fund managed through the Australian Department of Foreign Affairs and Trade - is providing the $22 million financing package. The debt consists of a 17-year, $18 million loan with fixed interest rate of 4.75% and a $4 million grant. The financing agreements were signed on 31 January, 2022 and financial close was achieved in April 2022. https://www.aiffp.gov.au/news/financing-agreements-improve-renewable-energy-infrastructure-palau https://www.aiffp.gov.au/investments/investment-list/palau-solar-plant-investment https://www.ashurst.com/en/news-and-insights/news-deals-and-awards/ashurst-advises-solar-pacific-pristine-power-on-palau-solar-and-battery-project-financing/ https://www.allens.com.au/insights-news/news/2022/04/allens-advises-on-the-project-financing-of-palau-solar/

Energy

World Bank Group

Project

Energy Storage, Solar, Power Generation (CCGT), Government, Power Transmission