Source: Pacific Trade Invest New Zealand
Island Power, a UK-based enterprise specialising in facilitating energy independence through rapid transition to renewable and resilient energy systems, has signed an MOU agreement with the Government of Niue in Alofi.
Acting Minister for Infrastructure, Hon John Tiakia was pleased to sign the MOU on behalf of the Government of Niue.
The Niue Government’s commitment towards energy efficiency by 2025 will see Island Power in collaboration with Government authorities, introduce USD750,000 investment as a first step, into Niue’s future energy systems through the development of an energy efficient solution for a Natural Grid network installation.
Marcus Saul of Island Power said in Niue, “working with the Niue government and communities, we aim to deliver long term benefits including education and economic development associated with the Niue Natural Grid.
Welcoming the initiative, Niue Premier, Dalton Tagelagi said “Today Niue: Tomorrow the Pacific! There was a clear recognition at COP 27 that conventional climate finance has reached the end of the road. Here, facing the cliff edge of climate change, perhaps the Niue Natural Grid initiative may be a first step back along the ‘road less travelled.’
“I welcome Island Power and ISRS@UCL to Niue and I thank Pacific Trade Invest NZ for their diligence and inspiration in facilitating what I believe will be a Pacific climate pathfinder.”
Chris Cook of Island Power, a leading climate finance expert said, “Niue Natural Grid objectives address all 17 UN Sustainable Development Goals by Environmental, Social & Governance (ESG) compliant climate finance:
1. Environmental – cutting fuel costs also cuts CO2 emissions
2. Social – increasing capacity and addressing fuel poverty
3. Governance – Niueans own and operate the Niue Natural Grid.”
As Research Fellows at the Institute for Strategy, Resilience and Security, at University College, London, Marcus Saul and Chris Cook researched and developed the Pacific Natural Grid resource resilience strategy.
The investment was facilitated by Pacific Trade Invest New Zealand
Glynis Miller, Trade Commissioner said, “Pacific Trade Invest NZ is committed to assisting pacific island countries expand their export markets and benefiting from inbound investment. Lending our resources and connections to help bring resilient investment solutions to address the impacts of climate change and disasters towards energy efficiency and reliability responds in part to the 2050 Strategy for the Blue Pacific Continent, endorsed by Forum Leaders in 2022”.
“The initiative have been developed from extended consultations among the parties considering new modalities for renewable energy technology and potential investment opportunities aiming to achieve energy resilience and independence for Niue,” Head of Trade & Investment, Frank Sioneholo of the Treasury Department said.
“I acknowledge the partnership dialog and guidance from the Pacific Trade Investment New Zealand, Trade Commissioner Glynnis Miller and Team, together with Island Power for their leadership and patience with us”, he concluded.
Representatives of the Government of Niue, Island Power and Pacific Trade Invest at the signing ceremony.
ABOUT PACIFIC TRADE INVEST NZ
? Is part of the Pacific Trade Invest Global Network of offices operating in Sydney, Australia; Beijing, People’s Republic of China; Geneva, Switzerland and Auckland, New Zealand
? An agency of Pacific Islands Forum Secretariat (PIFS)
· Is funded by the Government of New Zealand.
? Supports the 16 Forum Island countries and Territories: Cook Islands, Federated States of Micronesia, Fiji, French Polynesia, Kiribati, Republic of the Marshall Islands, Nauru, New Caledonia, Niue, Palau, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu, and Vanuatu.
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