TheWorld Bank andthPNG Government have signed an agreement for a Renewable Energy Development Project.
Minister for Treasury, Don Polye, signedthe financing agreement with technical assistance for Naoro Brown Hydropower.
This project will be implemented bythe Department of Petroleum and Energy anPNG Power.
TheWorld BenPNG Country Manager Laura Beiley emphasisedthe importance of clean energy options to meetthe needs oPNG’s population.
The project will focus on providing expert advice to supportthe development of national policies on renewable energy and rural electrification.
The Bank will also finance studies to helpthe Government anPNG Power analysethe legal, social and environmental dimensions inthe development ofthe Naoro Brown hydropower project in Central province.
Treasurer, Minister Polye reflected onthe budget outcome of last year, stating a lack of performance inthe energy sector. He said Green energy is one ofthe development aspirations ofthe O’Neill/Dion Government.
PNG Power is confident it will have sufficient capacity to accommodatethe steady growth Port Moresby, withthe injection of 80 MW Hydropower from Naoro Brown into Port Moresby power grid.
Papua New Guinearsquo;s current electricity access stands at ten percent today, one ofthe lowest electrification rates inthe world.