Energy Summit delivering for the Pacific

Implementation of the renewable energy projects, totalling $635 million, agreed at the Auckland Pacific Energy Summit in March is on-track, Foreign Affairs Minister Murray McCully says.

Mr McCully, at the Pacific Islands Forum in Majuro, today released a report outlining the progress made since the Summit.

"One of the best ways New Zealand can assist Pacific Island countries manage the challenges and impacts of climate change is to strengthen and diversify their economies. Our substantial investment in renewables is the prime example of how we are doing this," Mr McCully says.

"Importation of diesel for electricity operation costs Pacific countries 10 per cent of GDP and 25 per cent of their import bill. New Zealand recognises that this is not sustainable, especially in a region where the potential for renewables is so great.”

Earlier this year New Zealand co-hosted the Pacific Energy Summit in Auckland with the European Union. The Summit, which raised $635 million, brought together donors, governments and the private sector to help accelerate the Pacific’s uptake of renewable energy and energy efficiency.

"At the conference I proposed that we target taking the region from just 5 per cent to 50 per cent of power generation from renewable sources within the next five years. This is an ambitious target but will deliver immense benefits.

“We are pleased to report that donors and development partners are delivering on this commitment, with more than 50 energy projects now being developed across the Pacific,” Mr McCully says.

At the Summit New Zealand committed at least $65 million over three years for 18 energy projects.

“These include working with the Cook Islands and Tuvalu to build solar energy infrastructure and partnering with the EU and Samoa to add 1.5 megawatts of large-scale solar infrastructure into the electricity network,” Mr McCully says.