ADB, Sun Pacific Energy Ltd sign 2.8 mln USD deal to boost solar power in Samoa

MANILA, Aug. 25 (Xinhua) -- The Asian Development Bank (ADB) on Monday said it and power producer Sun Pacific Energy Ltd (SPEL) have signed a loan of 2.8 million U.S. dollars to help increase renewable energy generation in Samoa.

The ADB said the loan will be used to upgrade and expand SPEL's existing Upolu Solar Farm, which was partly funded by the ADB in 2017, by installing higher-efficiency solar panels.

The new expansion is expected to generate 9.6 gigawatt-hours of clean energy per year and reduce an additional 1,944 tons of carbon dioxide emissions annually, the Manila-based bank said in a press release.

"The generated power will support the delivery of a reliable and sustainable power supply, which will spur economic activity, benefiting commercial, industrial, and residential consumers," said the Regional Director of ADB's Pacific Subregional Office Aaron Batten.

SPEL is Samoa's first independent power producer and has a 20-year power purchase agreement with Electric Power Corporation, a government-owned national utility. ■