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President Dr Hilda Heine has announced fresh details around a US$34 million investment to boost renewable energy, promote energy efficiency and enhance the Republic of the Marshall Island’s resilience to climate change.
President Heine said one of the outcomes of the Sustainable Energy Development Project (SEDeP) would be a more than four-fold increase in the RMI’s share of renewable energy from two per cent to nine per cent.
“This project highlights the expanding partnership between the World Bank and the Republic of Marshall Islands, and means we will be in a better position to deal with the impacts of climate change,” President Heine said.
“The Marshall Islands is among the countries’ most vulnerable to climate change and rising sea levels, and our reliance on expensive imported fuel for electricity also creates severe financial challenges for the country’s economy.
“The SEDeP aims to reduce these vulnerabilities.”
Minister for Finance, Banking and Postal Services Brenson Wase said the project would utilise US$28.63 million for renewable energy investments; US$2.45 million for the promotion of energy efficiency and loss reduction program and U $2.92 million for technical assistance, capacity building and project management.
“This investment, in partnership with the World Bank, reinforces this government’s efforts to build our country’s resilience to climate change while meeting our National Energy Policy goals and increasing our renewable power generating capacity,” he said.
“It is planned to finalize the various SEDeP contracts before the end of 2019 and installation should be completed by early 2021.
“This government has already implemented many excellent initiatives that have enhanced the lifestyles of people and strengthened the economy.”
Minister-in-Assistance to the President and Environment Minister David Paul said bid documents had been issued for the design, supply and installation of four MW solar PV systems, including a 2.6 MW floating solar plant over the Majuro Water and Sewer Company reservoir.
Minister Paul said there were also plans for the installation of two new generators at the Marshalls Energy Company power plant, while a contract had been signed for new Kwajalein Atoll Joint Utilities Resources generators on Ebeye.
“The RMI Government is working hard with development partners to meet our targets of 20 per cent renewable energy by 2020,” he said.
“The Marshall Island’s nationally determined contribution is to achieve a net zero emissions by 2050,” he said.
SOURCE: MARSHALL ISLANNDS GOVT/PACNEWS
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