New Zealand and the European Union have welcomed the successful conclusion of the Pacific Energy Conference in Auckland this week which saw donors commit over $1 billion for sustainable energy projects in the Pacific.
“The $635 million committed at the 2013 Pacific Energy Summit has translated into over $900 million of investments across 70 projects,” New Zealand Foreign Minister Murray McCully says.
“In the same way, I hope to see the $1 billion of commitments announced today increase as opportunities for leverage become apparent, and as the ambition of partners grows.
“With the growing role for the private sector and the prospect of access to the UN Green Climate Fund there should be significant potential to further expand our efforts in this area.
“Investments and funding announced today will support Polynesia to achieve more than 50 percent renewable energy by 2024, provide access to electricity for an estimated 1 million people in Melanesia, and help other countries in the region to double their renewable energy generation.