The Asian Development Bank has signed grant and loan agreements with the Solomon Islands that will help the country's government develop the 750-kW Fiu River hydropower project in Malaita province.
The package, which includes a US$6 million loan and $6 million grant, was signed by ADB vice president Lakshmi Venkatachalama and Solomon Islands Minister of Finance and Treasure Rick Houenipwela.
An agreement was also signed with the Solomon Islands Electricity Authority, whose Solomon Islands Provincial Renewable Energy Project is working to replace its diesel generating fleet with renewable sources.
The country's government is also contributing $3 million to the project via the electricity authority.
HydroWorld.com reported in April that the Solomon Islands was seeking expressions of interest from consultants to provide design support and construction supervision for the project.
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