GridMarket and EarthX had brought in a group of executives from big companies in different parts of the world in their bid to help Palau achieve its target of generating 45% renewable energy by 2025.
GridMarket Chief Executive Officer Nicholas Davis together with executives from Japanese company, Marubeni Corporation, Chinese company, Tianshi, GEAC, and Siemens had met with Palau’s national and state leaders and other stakeholders on August 22 at the Palasia Hotel to discuss the work that is needed to be done for Palau to transition towards renewable energy generation.
The group had arrived in Palau on August 17 and had engaged in a series of meetings with key government officials including trips in different parts of Palau to check all sites, test viability and to determine how long and quick Palau can move towards its goals together with its partners.
Davis, during his presentation in front of Palau’s national and state leaders, said that their goal “is to facilitate one of the fastest transitions in history away from expensive fossil fuels towards renewables.”
“That just not take a few actors, a few people, it takes an entire national effort and that’s what we’re seeing here,” Davis said during his presentation.
The group is also looking into ways of diversifying Palau Public Utility Corporation (PPUC)’s grid, identifying locations, partnering with successful and respectable providers, and identify funding sources, among others.
Davis also said that one of their targets is to reduce PPUC’s cost on electricity by 30 to 50% which is expected to bring substantial benefits to consumers. (Rhealyn C. Pojas)