For Immediate Release
Serial No. PR-17-061
October 3, 2017
Office of the President, GridMarket and EARTHx
The Republic of Palau Partners with GridMarket and EARTHx to Achieve 45% Renewable Power Generation by 2025
The historic public-private partnership is targeting strategic deployments of solar PV, wind, and battery storage
The Republic of Palau, EARTHx, and GridMarket are thrilled to announce that they have entered into a partnership to help Palau meet its energy goals, including achieving 45% renewable generation by 2025. This public-private partnership will transition Palau’s energy economy away from a dependency on imported diesel and towards a resilient, self-sustaining energy infrastructure. By implementing solar PV, wind, and battery storage, Palau will strengthen its grid, reduce energy costs, and emit significantly less carbon.
A strategy was presented by the partnership and approved by President Tommy E. Remengesau, Jr. who travelled to New York for the 72nd session of the United Nations General Assembly.
“The Republic of Palau is committed to creating a cleaner, more resilient energy infrastructure,” said President Remengesau. “It is imperative that we act now, and I am thrilled to be launching our initiative with GridMarket and EARTHx. This is an exciting partnership because it allows us to rapidly identify and deploy the ideal solutions to meet our near term targets, while also ensuring that we create a lasting and sustainable energy economy. ”
Key points from the plan included a project deployment schedule created using the GridMarket platform, proposed project financing structures, and a number of targeted implementation programs. GridMarket’s project recommendation engine leveraged mapping technology and predictive analytics to site the most impactful utility scale projects and remotely create granular customer-sided deployment targets for Palau’s government buildings, commercials properties, and residential homes. The proposed solutions will diversify Palau’s energy generation sources, creating the most beneficial, cost-effective path to lasting energy independence.
“We want Palau’s goals for 2025 to be just the beginning of a new energy future for the country,” said GridMarket CEO, Nick Davis. “By diversifying generation, introducing new revenue streams, and educating a local workforce, this new energy economy will experience sustained growth. And by decentralizing its energy infrastructure through the development of microgrids across the country, Palau will improve its resilience and provide its citizens with more reliable access to power in the face of natural disasters.”
With the approved strategy now in place, GridMarket and EARTHx will begin leveraging their respective networks to rapidly select technology providers, secure project funding, and showcase success. A forthcoming request for proposals will be issued through the GridMarket Platform.
“It’s imperative that solution providers and partners from around the world participate in GridMarket’s RFP in order to improve the Republic of Palau’s resilience and accelerate its clean energy future,” said Trammell S. Crow, founder of EARTHx. “Palau will be a model for small island nations across the globe looking to implement renewables, strengthen resilience, and transition their economies away from a dependence on imported fossil fuels. We are proud to host President Remengesau at EARTHx in 2018 in order to celebrate Palau’s progress and the partners who’ve contributed to their success.”
Vendors interested in receiving the GridMarket RFP and any other relevant updates should create a profile here. To learn more about EARTHx’s annual Earth Day forum, please see here. For more information on the partnership and the Republic of Palau’s established energy goals, please see here.
GridMarket has created a dynamic, data-driven platform and project portal to promote and deploy distributed energy resources. By matching algorithmically identified project opportunities with optimal solutions, GridMarket allows energy consumers to embrace the future of clean, on-site generation.
As a 501(c)(3) nonprofit organization focused on environmental education and awareness, EARTHx, formerly known as Earth Day Texas, has created the world’s largest annual forum for sharing the latest initiatives, discoveries, research, innovations, policies, corporate and NGO practices that are reshaping the future. Founded in 2011 by Dallas-based environmentalist, philanthropist and businessman Trammell S. Crow, EARTHx promotes environmental awareness by curating an atmosphere for conscious business, nonpartisan collaboration and community-driven sustainable solutions. For more information, visit www.earthx.org.
Click on this link to download this press release: Press Release_Republic of Palau, GridMarket and EARTHx Announce Partnership for Renewable Energy_03OCT2017_FINAL