PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

600131

Primary Business Area

Cross-Industry Advisory Services

Disclosure Date

May 4, 2015

Country

Papua New Guinea

Region

East Asia and the Pacific

IFC Approval Date

Sep 30, 2014

Status

Completed

Estimated Total Budget

$1,768,440.00
(Project budget includes all project-funded activities)

Last Updated Date

Apr 2, 2023

Project Estimated End Date

Jun 30, 2017

Project Description

This project seeks to address the disparity between demand and supply in energy markets in Papua New Guinea and other Pacific Island Countries (PICs). Despite increasing demand for energy from both businesses and households in the Pacific, energy access is still expensive and unreliable. The countries also remain largely dependent on fossil fuels to meet their current energy needs despite an abundance of renewable energy resources.

The broad components of the project are:
-Customized Advice to Individual Firms: (a) Augmenting energy supply through renewable energy; (b) Replacing Fossil Fuel based energy with Renewable energy (RE) sources; (c) developing energy need solutions that are bankable and replicable.
-Advisory Services to current and potential strategic clients
-Market Intelligence and Dissemination to: (i) create awareness of how to structure bankable renewable energy projects and (ii) create a potential pipeline of relatively realistic opportunities for IFC and other third party financial institutions.

Development Results

E&S Risks / Impacts and Mitigation