The Saudi Fund for Development (SFD) has inked a USD10 million development loan agreement for financing a renewable energy project in the Solomon Islands.
This renewable energy project aims to enhance the region’s renewables infrastructure through the development of solar power stations. These stations will have a total capacity of 35.5 MW, along with energy storage systems. Furthermore, this loan is also designed to reduce dependence of the region on conventional energy sources, support environmental sustainability, and advance the United Nations Sustainable Development Goals.