The Tina River Hydropower Development Project on Guadalcanal in Solomon Islands has now finalised its financing.
The company running the project says funding is estimated to reach $US240 million.
The 15-megawatt hydropower project is now set to begin construction next month.
Six financing organisations, including the World Bank Group, have come together to provide grants and loans to make the vision of affordable, renewable energy a reality.
Solomon Islands Prime Minister Manasseh Sogavare said the scheme "signals to investors that Solomon Islands is ready for big projects and partnerships".