Financing agreements to improve renewable energy infrastructure in Palau
Australia, through the Australian Infrastructure Financing Facility for the Pacific, is providing a USD22 million financing package to Solar Pacific Pristine Power for a landmark solar and battery energy storage facility in Palau.
The financing was announced by the Minster for Foreign Affairs and Minister for Women, Marise Payne during her visit to the Republic of Palau in December 2021. The agreements were signed on Monday 31 January 2022.
The project will deliver high-quality, renewable and sustainable energy infrastructure for Palau. It is anticipated to provide approximately 20 per cent of the country’s energy needs reducing dependency on imported diesel for power generation.