The bank’s new Pacific Energy Update 2014 revealed that the move will help the region reduce its heavy dependence on fossil fuels and support more sustainable and environmentally friendly growth.

ADB Pacific Energy Specialist and lead author of the report Mike Trainor said, "ADB’s energy strategy in the Pacific is focused on assisting Pacific governments with projects that will build greater energy security and sustainability in the region."

According to the report, demand for electricity in the Pacific region is anticipated to increase by 7% annually between 2005 and 2030, above the growth of electricity generation at 6.4%.

The report said Pacific countries will likely remain dependent on imported fossil fuels as the dominant source of electricity until 2030 but the region is making increasing progress in developing renewable energy alternative, and increasing energy efficiency.

ADB has approved four energy projects in Cook Islands, Nauru, Samoa, and Solomon Islands In the past four years.
The planned energy projects will add to an existing pipeline of loans, grants, and technical assistance totaling $297m.

ADB is also supporting governments’ plans to enhance efficiency via adoption of minimum energy performance standards for appliances and upgrading street lighting utilizing energy efficient, long-life technologies.

Image: ADB supports investments in power transmission and distribution to expand service availability and improve system reliability.Photo: Courtesy of Asian Development Bank.