ADB awarded Development Financial Institution of the Year, three energy projects cited

For the third consecutive year, ADB was awarded the Development Financing Institution of the Year by IJGlobal, a leading project finance and infrastructure journal. Four ADB projects, three of which are from the energy sector were also cited for different award categories.The SOL: Tina River Hydro Power Project was awarded the Hydro Deal of the Year. The project will be the largest public-private partnership project ever developed in the Solomon Islands. It involves the installation of a 15-megawatt hydropower plant that will increase the generation of renewable energy on the Honiara grid in the Solomon Islands.The Power Deal of the Year Award was given to the THA: Eastern Economic Corridor Independent Power Project. ADB played a catalytic role in mobilizing various sources of finance in this project that will ensure Thailand’s supply of energy particularly in the industrial and residential sectors. The combined-cycle power plant will generate 16,000 gigawatt-hours once it will be operational in 2024.The VIE: Floating Solar Project took the Innovation Award. The project will install a 47.5 megawatt (MW) peak floating photovoltaic (PV) solar power facility on the man-made reservoir of DHD’s existing 175 MW Da Mi hydropower plant and marks the first large-scale installation of floating solar PV panels in Viet Nam and the largest installation in Southeast Asia.