ADB and Solomon Islands sign agreement for the development of solar power

HONIARA, SOLOMON ISLANDS (13 May 2026) — The Asian Development Bank (ADB) and the Solomon Islands Electricity Authority (SIEA) today signed a Transaction Advisory Services Agreement, which will support SIEA in mobilising the first solar independent power producer in the Solomon Islands. The grid-connected solar photovoltaic (PV) power project in Honiara will be developed by mobilising private sector investment.

The Chief Executive Officer of SIEA, Delia Homelo, and the ADB Country Director of ADB’s Solomon Islands Resident Mission, Anthony Gill, signed the agreement.

“ADB helps bring in private investors for important projects such as this grid-connected solar PV project in Solomon Islands,” said Mr Gill. “This project will unlock investment through public-private partnerships and reduce risks so that businesses feel confident to invest, at the same time reducing the country’s reliance on imported diesel and reducing greenhouse gas emissions.”

Diesel currently accounts for 98% of total power generation in the Honiara grid, exposing SIEA to fuel supply disruptions and international price volatility. Renewable energy projects help to stabilise the power supply and keep downward pressure on tariffs

ADB, through their Office of Markets Development and Public-Private Partnership, will act as the transaction advisor and conduct project preparation, tendering and support SIEA in awarding the contract to supply electricity. The need for a battery energy storage system will also be assessed as part of the technical assessments.

The project is part of the Solomon Islands government’s efforts to attract investment in renewable energy generation.

ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from the region.

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The signing ceremony