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The Republic of Palau, through the Ministries of Finance, Public Infrastructure and Industry, Palau Utilities Corporation, and Japan’s Tokyo Electric Power Holdings (TEPCO HD) signed a framework agreement on Tuesday (August 13) to work together on clean energy and sustainable development.
The agreement focuses on solar energy and grid management, and is designed to help Palau achieve its carbon neutrality goal by 2032, achieve grid stability and reduce power fluctuations. TEPCO HD will share its expertise and technical assistance to help Palau optimize its power system and integrate more renewable energy.
The agreement is in line with the Joint Action Plan developed at the Pacific Island Leaders’ Meeting (PALM 10) in July, which called for greater cooperation on clean energy transition and infrastructure development.
The signing of the agreement was facilitated by a visit to Japan by Palau’s President Surangel S. Whipps, Jr., who expressed his desire to strengthen the relationship between the two countries. During the signing, President Whipps stated, “…our goal is to achieve 100% renewable energy by 2032. We need a distribution engineer to provide stable electricity that is both cost-effective and cheaper than fossil fuels. What we lack is the engineering, skills and people to help us achieve this. We need the right partner, and I believe TEPCO is that right partner.”
Tepco HD aims to reduce CO2 emissions from its energy supply to zero by 2050, creating a safe and sustainable society. Through this agreement, Tepco HD will support Palau’s efforts to transition to a clean energy economy. Palau has endorsed Sustainable Development Goal 7, clean and affordable energy by 2030, and net zero emissions by 2050. Palau aims to achieve 45% renewable energy by 2025 and is on track to achieve 100% by 2032. Tepco HD’s CEO reiterated, “…the impetus for the strengthening partnership between the Republic of Palau and Tepco was the June 2023 visit of His Excellency President Surangel S. Whipps Jr. to Japan to help the Republic of Palau achieve its goal of 100% renewable energy by 2032.”
TEPCO HD will contribute to Palau’s grid stability and carbon neutrality by leveraging our expertise in decarbonization and grid operation technologies developed domestically and abroad. The agreement also aims to acquire knowledge of grid stability technologies that can be applied to microgrid systems on Japan’s islands.
Tepco’s experience in managing the electric grid and integrating renewable energy will be invaluable as Palau seeks to increase its use of solar and other clean energy technologies.
Both sides agreed to work together to create a cleaner energy future for Palau and the region.
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