The Government of Kiribati requested assistance in the preparation of an Investment Plan (IP), which would be used to apply for renewable energy project funding through the Climate Investment Fund’s Scaling Up Renewable Energy Program (SREP). The primary objective of the IP was to identify renewable energy projects where SREP resources and other sources of funds could be used to overcome barriers to investment. These projects were identified by building upon existing analyses of renewable energy potential in Kiribati through in-depth resource and financial modeling. Project identification also involved working with a diverse set of national and international stakeholders from industry, academia, and government.
DHInfrastructure led a team of national and international technical consultants to carry out the renewable energy resource assessment and the financial analysis of various potential renewable energy resource options. DHInfrastructure then evaluated the economic and financial viability of each renewable technology by using financial models to calculate the levelized cost of energy (LCOE). Next, a prioritization exercise took place where the technologies were assigned scores based on the results of the economic and financial analysis and scores against other criterion selected by the Government’s SREP National Task Force to capture national renewable energy policy goals. Through this process, solar photovoltaics (PV) and battery storage were identified as the technology to be prioritized in the IP. As a final output, DHInfrastructure developed a complete IP, which identified specific investment opportunities and potential sources of funding for each opportunity.