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Jointly funded by the governments of Tokelau and New Zealand, the $NZ9 million ($USD5.7m) system will be installed by New Zealand company Vector PowerSmart.. Jointly funded by the governments of Tokelau and New Zealand, the $NZ9 million ($USD5.7m) system will be installed by New Zealand company Vector PowerSmart.. The New Zealand government provided NZ$7 million (US$5.8 million) to help finance the project though the full cost of the systems was NZ$8.5 million. [pdf]
Solar Array’s seen on the three tiny islands of Tokelau to completely produce solar power energy. The renewable energy system comprising of solar panels, storage batteries and generators running on biofuel derived from coconut will generate enough electricity to meet 150% of the islands’ power demand.
Tokelau's solar energy systemis set to be upgraded on each of its three atolls. Jointly funded by the governments of Tokelau and New Zealand, the $NZ9 million ($USD5.7m) system will be installed by New Zealand company Vector PowerSmart.
Each system alone is among the largest off-grid solar power systems in the world, and together they are capable of providing 150% of current electricity demand in Tokelau, a much higher amount than the 90% that was originally planned for.
Jointly funded by the governments of Tokelau and New Zealand, the $NZ9 million ($USD5.7m) system will be installed by New Zealand companyVector PowerSmart. Tokelau's existing solar system was eight years old and in need of upgrading because of increasing demand for electricity and wear and tear from the harsh marine environment, it said.
Vector PowerSmart chief operating officer Colin Daly said the project would mean the people of Tokelau would enjoy "clean, reliable and renewable energy" for years to come. Additional 210 kilowatt solar arrays would be installed on Atafu, Fakaofo and Nukunonu, along with two megawatt hour lithium ion battery storage systems.
Yet despite the challenges involved in installing comprehensive solar systems in such a remote location, switching to solar was absolutely crucial for the tiny collection of islands. "Tokelau’s atolls are low-lying and especially susceptible to the adverse effects of climate change," Mayhew stressed.

United Arab Emirates-based clean energy company Masdar has completed the acquisition of Terna Energy in a €3.2bn ($3.3bn) deal.. United Arab Emirates-based clean energy company Masdar has completed the acquisition of Terna Energy in a €3.2bn ($3.3bn) deal.. Abu Dhabi-based Masdar has taken a majority stake in Greek renewable energy company Terna Energy, with plans to launch an all-cash mandatory tender offer to acquire the outstanding shares. [pdf]
With a strong portfolio of projects in Greece and Europe, TERNA ENERGY is the largest investor in the renewables energy sector in Greece. The proposed acquisition is expected to play an important role in growing Masdar’s portfolio in Europe as it targets 100GW global capacity by 2030.
TERNA ENERGY will play an important role in enhancing Masdar's portfolio across Europeas it targets 100GW global capacity by 2030 in support of the energy transition. Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, commented: "Masdar is proud to become the majority shareholder of TERNA ENERGY, bringing together two energy champions.
Our agreement with Masdar is a recognition of the great value of TERNA ENERGY and the result of the hard work of hundreds of people for more than 25 years. At the same time, it marks the beginning of a new era of even greater growth for GEK TERNA Group. It is also a strong vote of confidence for Greece and its prospects.
Established in 1997, TERNA ENERGY is a leading European clean energy platform, with a track record of more than 25 years of delivering innovative and sustainable projects. The company specializes in financing, developing, constructing and operating renewable energy facilities, focused on wind, solar, hydroelectric and pumped storage projects.
Demonstrating continuity in leadership, TERNA ENERGY’s Executive Chairman, Georgios Peristeris, and Chief Executive Officer, Emmanuel Maragoudakis, will continue in their current roles following completion of the transaction and support Masdar in leading the company in its next phase of growth.
"Masdar's acquisition strategy has focused on acquiring not just assets, but investing in exceptional teams.
We are deeply committed to excellence in all our endeavors.
Since we maintain control over our products, our customers can be assured of nothing but the best quality at all times.