For Immediate ReleaseSerial No. PR-17-061October 3, 2017Office of the President, GridMarket and EARTHx Contact online >>
For Immediate ReleaseSerial No. PR-17-061October 3, 2017Office of the President, GridMarket and EARTHx
The Republic of Palau, EARTHx, and GridMarket are thrilled to announce that they have entered into a partnership to help Palau meet its energy goals, including achieving 45% renewable generation by 2025. This public-private partnership will transition Palau''s energy economy away from a dependency on imported diesel and towards a resilient, self-sustaining energy infrastructure. By implementing solar PV, wind, and battery storage, Palau will strengthen its grid, reduce energy costs, and emit significantly less carbon.
A strategy was presented by the partnership and approved by President Tommy E. Remengesau, Jr. who travelled to New York for the 72nd session of the United Nations General Assembly.
"The Republic of Palau is committed to creating a cleaner, more resilient energy infrastructure," said President Remengesau. "It is imperative that we act now, and I am thrilled to be launching our initiative with GridMarket and EARTHx. This is an exciting partnership because it allows us to rapidly identify and deploy the ideal solutions to meet our near term targets, while also ensuring that we create a lasting and sustainable energy economy. "
Key points from the plan included a project deployment schedule created using the GridMarket platform, proposed project financing structures, and a number of targeted implementation programs. GridMarket''s project recommendation engine leveraged mapping technology and predictive analytics to site the most impactful utility scale projects and remotely create granular customer-sided deployment targets for Palau''s government buildings, commercials properties, and residential homes. The proposed solutions will diversify Palau''s energy generation sources, creating the most beneficial, cost-effective path to lasting energy independence.
"We want Palau''s goals for 2025 to be just the beginning of a new energy future for the country," said GridMarket CEO, Nick Davis. "By diversifying generation, introducing new revenue streams, and educating a local workforce, this new energy economy will experience sustained growth. And by decentralizing its energy infrastructure through the development of microgrids across the country, Palau will improve its resilience and provide its citizens with more reliable access to power in the face of natural disasters."
With the approved strategy now in place, GridMarket and EARTHx will begin leveraging their respective networks to rapidly select technology providers, secure project funding, and showcase success. A forthcoming request for proposals will be issued through the GridMarket Platform.
"It''s imperative that solution providers and partners from around the world participate in GridMarket''s RFP in order to improve the Republic of Palau''s resilience and accelerate its clean energy future," said Trammell S. Crow, founder of EARTHx. "Palau will be a model for small island nations across the globe looking to implement renewables, strengthen resilience, and transition their economies away from a dependence on imported fossil fuels. We are proud to host President Remengesau at EARTHx in 2018 in order to celebrate Palau''s progress and the partners who''ve contributed to their success."
Vendors interested in receiving the GridMarket RFP and any other relevant updates should create a profile here. To learn more about EARTHx''s annual Earth Day forum, please see here. For more information on the partnership and the Republic of Palau''s established energy goals, please see here.
About GridMarketGridMarket has created a dynamic, data-driven platform and project portal to promote and deploy distributed energy resources. By matching algorithmically identified project opportunities with optimal solutions, GridMarket allows energy consumers to embrace the future of clean, on-site generation.
About EARTHx As a 501(c)(3) nonprofit organization focused on environmental education and awareness, EARTHx, formerly known as Earth Day Texas, has created the world''s largest annual forum for sharing the latest initiatives, discoveries, research, innovations, policies, corporate and NGO practices that are reshaping the future. Founded in 2011 by Dallas-based environmentalist, philanthropist and businessman Trammell S. Crow, EARTHx promotes environmental awareness by curating an atmosphere for conscious business, nonpartisan collaboration and community-driven sustainable solutions. For more information, visit
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Palau celebrated the inauguration of its ground-breaking solar-plus-storage project, marking a significant milestone in the region. Developed by Solar Pacific Energy Corporation (SPEC), a subsidiary of Altenergy, the project represents the largest power plant of its kind in the Western Pacific.
With an investment of $US29 million, the installation is poised to revolutionise Palau''s energy landscape, meeting more than 25 per cent of the country''s electricity demands.
Situated in Ngatpang state on Babeldoab, Palau''s largest island, the project connects to the central grid, enabling the distribution of clean power throughout the archipelago. Palau Public Utilities Corporation (PPUC), the country’s utility provider, has entered into a long-term power purchase agreement (PPA) with SPEC, ensuring the smooth integration of the renewable energy system into the existing grid network.
The development of this solar and battery storage project was made possible through financial support from the Australian government''s Australian Infrastructure Financing Facility for the Pacific (AIFFP). The AIFFP provided $18 million in financing to SPEC’s special purpose vehicle, Solar Pacific Pristine Power (SPPP), with an additional $4 million grant allocated for the initiative. This backing from the Australian government reflects the international commitment to promoting sustainable energy solutions in the Pacific region.
Palau''s transition towards renewable energy sources demonstrates its dedication to combatting climate change and reducing reliance on fossil fuels.
The Palau solar and battery storage project not only bolsters the country''s energy independence but also highlights the potential for renewable energy to power nations across the Pacific. As Palau paves the way, it inspires others to follow suit, driving the transition towards a greener and more sustainable world.
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KĪHEI, Hawaii, April 28, 2022 (GLOBE NEWSWIRE) -- During the recently held 7th Our Ocean Conference hosted by the Republic of Palau in partnership with the United States, President Surangel S. Whipps Jr. announced the Republic of Palau''s commitment to generating 100% of its energy from renewable resources by 2032 without increasing costs to consumers. Aligning with this bold commitment, President Whipps signed the Moana Pledge transpacific agreement committing to reaching renewable energy goals while enhancing overall island resiliency through the use of the Solar ImpulseCertified™ Moana Pledge framework.
By signing, Palau became the first of the Pacific Island Countries and Territories to commit to the non-binding Transpacific Compact designed to accelerate renewable energy growth across the region simultaneously through streamlined project development processes and principles.
Upon signing, President Whipps conveyed the value of the initiative: "The Moana pledge is all about bringing people together, bringing resources together, and bringing experts to find the best way to chart a sustainable path that ultimately benefits the people by lowering the cost of energy and protecting our planet." Accompanying the President was Mana Pacific Inc''s Co-founder and President, Mr. John Miller, who reflected on the long-standing effort and development that led to the momentous occasion: "By becoming the first country to commit to the Moana Pledge, Palau has taken the first step in a journey of a thousand miles and an example for the rest of the Pacific Islands to follow."
Image 1: President Surangel Whipps Jr. Signs the Moana Pledge President Surangel Whipps Jr. of the Republic of Palau and President John Miller of Mana Pacific after signing of the Moana Pledge transpacific agreement to help accelerate the development and financing of renewable energy across the Pacific Islands.
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