11 Aug 2014

Solomons Treasurer enthuses on huge hydro project

8:00 pm on 11 August 2014

The Solomon Islands Minister of Finance and Treasury says the fledgling Tina River Hydro project is set to have a big impact on the country's economy.

Eight potential investors who have expressed interest in building and operating the project took part in a recent briefing in Honiara which has heralded the start of the tender process.

Companies participating in the event were from Australia, New Zealand, South Korea, Japan, Malaysia, Spain and Sri Lanka.

The Minister, Rick Hou, says the project is unprecedented in scale, longevity and scope of benefits.

"In dollar terms, it's very huge: over a hundred million US dollars. The capacity is probably more than half of Honiara's current consumption. So it's going to be quite huge when it comes into operation."

Rick Hou says the project will reduce the country's reliance on imported diesel and improve the sustainability and reliability of power in Guadalcanal.