Palau celebrated the inauguration of its ground-breaking solar-plus-storage project, marking a significant milestone in the region. Developed by Solar Pacific Energy Corporation (SPEC), a subsidiary of Altenergy, the project represents the largest power plant of its kind in the Western Pacific.
With an investment of $US29 million, the installation is poised to revolutionise Palau’s energy landscape, meeting more than 25 per cent of the country’s electricity demands.
Situated in Ngatpang state on Babeldoab, Palau’s largest island, the project connects to the central grid, enabling the distribution of clean power throughout the archipelago. Palau Public Utilities Corporation (PPUC), the country’s utility provider, has entered into a long-term power purchase agreement (PPA) with SPEC, ensuring the smooth integration of the renewable energy system into the existing grid network.
The development of this solar and battery storage project was made possible through financial support from the Australian government’s Australian Infrastructure Financing Facility for the Pacific (AIFFP). The AIFFP provided $18 million in financing to SPEC’s special purpose vehicle, Solar Pacific Pristine Power (SPPP), with an additional $4 million grant allocated for the initiative. This backing from the Australian government reflects the international commitment to promoting sustainable energy solutions in the Pacific region.
Palau’s transition towards renewable energy sources demonstrates its dedication to combatting climate change and reducing reliance on fossil fuels.
The Palau solar and battery storage project not only bolsters the country’s energy independence but also highlights the potential for renewable energy to power nations across the Pacific. As Palau paves the way, it inspires others to follow suit, driving the transition towards a greener and more sustainable world.
