Financing secured for Timor-Leste’s first solar-storage project
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Summary
<p>The Asian Development Bank, World Bank and investors from Canada and Japan have partnered on a $85.7 million financing package for Timor-Leste’s first independent power project.</p> <p>The post <a href="https://www.pv-magazine.com/2026/07/29/financing-secured-for-timor-lestes-first-solar-storage-project/">Financing secured for Timor-Leste’s first solar-storage project</a> appeared first on <a href="https://www.pv-magazine.com">pv magazine Global</a>.</p>
<p>An $85.7 million financing package has been signed off for a 73.7 MWac grid-connected solar plant tied to an 80.2 MWh battery energy storage system in Timor-Leste.</p>
<p>The project is both Timor-Leste’s first utility-scale solar-plus-storage project and its first independent power producer project. It will be operated by Manatuto Renewables Power, a joint venture company between French utility EDF and Japan’s Itochu Corporation.</p>
<p>The funding package will support the development, construction, operation and maintenance of the solar-plus-storage system and association transmission lines and ancillary facilities. </p>
<p>It consists of $12.2 million in senior loans from the Asian Development Bank (ADB), $19 million from the International Finance Corporation (IFC) and $12.2 million from the Japan International Cooperation Agency (JICA). </p>
<p>The agreement also includes concessional loans including a total of $21.2 million from ADB’s Leading Asia’s Private Infrastructure Fund 2, supported by JICA, and Canadian Climate and Nature Fund for the Private Sector in Asia (CANPA), supported by the Canadian government.</p>
<p>An additional $21.2 million comes from the World Bank Group’s International Development Association’s Private Sector Window and the IFC Concessional Capital Window.</p>
<p>Electricity generated by the project will be sold to state utility Eletricidade de Timor Leste Empresa Pública under a 25-year power purchase agreement. The electricity generated is expected to be equivalent to the typical consumption of approximately 80,000 households in the country.</p>
<p>As the country’s first large-scale hybrid renewable project, the site is also set to reduce the country’s reliance on imported diesel. As of 2024, fossil fuels made up almost all of Timor-Leste’s energy mix.</p>
<p>Timor-Leste had installed 1 MW of solar by the end of last year, according to figures published by the International Renewable Energy Agency (IRENA), up from 0 MW at the end of the year prior.</p>
<p>The post <a href="https://www.pv-magazine.com/2026/07/29/financing-secured-for-timor-lestes-first-solar-storage-project/">Financing secured for Timor-Leste’s first solar-storage project</a> appeared first on <a href="https://www.pv-magazine.com">pv magazine Global</a>.</p>