First Pacific Energy Investment Forum Calls for Accelerated Action to Unlock Clean Energy Investment | Port Moresby, Papua New Guinea: 27 – 29 April 2026

The first Pacific Energy Investment Forum was successfully held in Port Moresby, Papua New Guinea, co-hosted by the Pacific Centre for Renewable Energy and Energy Efficiency (PCREEE) and the Papua New Guinea National Energy Authority (NEA), bringing together over 50 participants from governments, investors, development partners, utilities, and the private sector from 27 to 29 April 2026.

The Forum was convened under the Clean Energy Access for Remote Pacific Island Countries (CLEARPICs) project, supported by the UK Government’s Transforming Energy Access (TEA) programme and managed by the Carbon Trust in partnership with the Pacific Community’s (SPC) PCREEE.

The Forum highlighted the urgent need to bridge the gap between Pacific Island countries’ renewable energy ambitions and the investment required to achieve them, particularly in rural and remote communities where energy access remains limited.

Participants reaffirmed national energy targets across the region, including Papua New Guinea’s goal of 70% household electrification by 2030 and 78% renewable energy generation, Solomon Islands’ target of 100% renewable energy for the Honiara grid by 2030, and Vanuatu’s ambition to achieve 100% renewable energy by 2030.

Discussions underscored that while significant progress is being made, major financing gaps remain. Off-grid solar and mini-grid systems were identified as key solutions for improving energy access in dispersed island contexts. Participants noted that although technologies are readily available, the main barriers lie in developing appropriate business models, strengthening delivery systems and building investment-ready project pipelines.

The Forum also emphasized the importance of blended finance, risk mitigation tools, and stronger public-private partnerships to unlock private sector investment. Investors reiterated that finance follows bankable projects, reinforcing the need to move from concepts to well-structured and data-backed investment pipelines.

Case studies and regional experiences highlighted the importance of community engagement, productive use of energy and long-term operations and maintenance planning to ensure sustainability and impact. Experiences from the Caribbean were shared through presentations from the Caribbean Centre for Renewable Energy and Energy Efficiency (CCREEE)

Participants further called for strengthened regional coordination, improved investment promotion, and the development of structured platforms to support data sharing, due diligence and matchmaking between project developers and financiers.

The Forum concluded with a site visit on Saturday 2 May to the NapaNapa Solar Farm, showcasing practical implementation of utility-scale renewable energy in Papua New Guinea.

The Forum agreed that the Pacific now has sufficient evidence, emerging business models, and technological solutions to scale renewable energy deployment. However, success will depend on coordinated action, strong partnerships, and the effective mobilisation of public and private capital.

The outcomes of the Forum were subsequently elevated and presented to the Senior Energy Officials Meeting and the 6^th Pacific Energy and Transport Ministers Meeting, held from 4–8 May 2026, ensuring high-level regional policy consideration and alignment with ongoing energy transition priorities.

The 6^th PRETMM subsequently requested SPC-PCREEE in collaboration with members, work with NEA PNG, Island Minds Vanuatu, and the Smart Energy Council of Australia, OPERA, PPA, and SPREP to:

• develop a Pacific 100% Renewable Energy Investment Prospectus (PREIP)

• showcase pipelines of renewable energy projects to partners and investors

• socialise the PREIP at the margins of PIFLM-55 in Palau and the Pacific Pre-COP 31

More details: Regional Energy Investment Forum | PCREEE