The Democratic Coalition Government for Advancement is committed to progress the Tina Hydro Development Project as part of its first 100 Days priorities.
A statement from the DCGA revealed that under the Ministry of Mines, Energy and Rural Electrification’s Renewable Energy development programme, the DCGA aims to ensuring that all Government’s obligations to the contracts are met and done within its first 100 days.
In the meanwhile, during a courtesy visit made to the Office of the Prime Minister and Cabinet by officials from the World Bank this week, Mr. Guido Rurangwa, the World Bank’s Country Representative for Solomon Islands and Vanuatu stated that the key issues remaining before construction works can kick off are:
- signing of the GCF financing; 2. the resolution of the outstanding compensation payment to one remaining tribe; and after these two itemns are resolved, 3. Securing the Asian Development Bank (ADB) financing and signing all financing agreements.
The World Bank representative also stated that other conditions precedent to be fulfilled by the parties include securing land for the power transmission line, obtaining environmental consent for the project company Tina Hydro Limited and for the Government to conduct an UXO survey.
He further stated that all parties to the Project Agreements are targeting completion of the PPA conditions precedent by August 2019 so that the construction of the access road to the dam site can start prior to the rainy season.
The closure of the PPA is by December 5, 2019.
Further, as part of its commitment to progress the hydro development project, the Democratic Coalition Government for Advancement, in its first 100 days, is dedicated to see that the office of the Tina Hydro Limited (THL) will be officially opened, financial agreements and financial arrangements are finalised and signed with all outstanding financing parties, that the SIG On-lending agreement is finalised with all parties, that the public road declared for Lot 1 access road to the Tina Hydro, Lot 1 access road cleared of UXOs, that a side letter agreement signed between SIG and SIEA, and a retail power tariff reduction policy (2019-2023) approved.
The World Bank representative also congratulated the Prime Minister for the progress made in signing the Power Purchase Agreement (PPA) as part of the preparation of the Tina River Hydro Development Project.
The DCGA is committed to the delivery of ongoing and prospective policy priorities in the interests of peace, national stability and economic advancement.