Latest on palau s photovoltaic energy storage policy

When did Palau launch its first solar and battery energy storage system?

Palau on June 3 launched its first solar and battery energy storage system (BESS) project on Friday. The project was made possible by Renewable company Alternergy Holdings Corp. and its subsidiary Solar Pacific Energy Corporation.

What is a solar PV project in Palau?

With a capacity of 15.3 MWp solar PV and 12.9 MWh BESS, the project supports Palau's goal of achieving a 45% renewable energy share by 2025. The project's total investment of USD 29 million contributes to Palau's energy independence, clean power generation, carbon emissions reduction, and local employment opportunities.

Who is launching Palau's first solar PV + battery energy storage system?

Alternergy Holdings Corp. and its subsidiary Solar Pacific Energy Corporation have inaugurated Palau's first solar PV + battery energy storage system (BESS) project, marking a significant milestone in the region.

How will solar energy be produced in Palau?

Solar electricity will be produced by a hybrid 15.3 MWdc (13.2 MWac) solar photovoltaic (PV) plus 10.2 MWac/12.9 MWh battery energy storage system facility. Extensive safeguards to protect Palau’s pristine environment SPEC did not leave any stone unturned to protect the pristine Palau ecosystem.

What will Palau's solar PV project do?

The project, which is also Palau’s first grid-scale solar PV plant, will contribute significantly to the country’s nationally self-determined contribution to meeting global climate targets as agreed in the Paris Accord. These include reaching 35% renewable energy, and reducing energy sector emissions to 22% below 2005 levels, by 2025.

How much does Palau solar project cost?

In a press release from the company, it said the Palau solar project boasts a capacity of 15.3 MWp solar PV and 12.9 MWh BESS, making it one of the most significant foreign direct investments in the country. The project cost USD29 million, the venture marks a remarkable milestone for Alternergy.