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KOICA and MoPW signed MoU (IBS) program

KOICA and MoPW signed MoU (IBS) program

Country Director of KOICA, Eunju Cha (Image Tatoli/Francisco Sony)

DILI, 28 march 2023 (TATOLI) – Korea International Cooperation Agency (KOICA) and the Minister of Public Work (MoPW) signed a Memorandum of Understanding (MoU) for inclusive Business Program (IBS).

The agreement was signed by the Minister of Public Works (MOP), Abel Pires da Silva, and the Chief Representative of the Korea International Cooperation Agency (KOICA) in Timor-Leste, Ms. Eunju Cha, for the imminent implementation of the renewable energy project in the municipality of Atauro.

Chief Representative of the Korea International Cooperation Agency (KOICA) in Timor-Leste, Ms. Eunju Cha stated that Korean company ELT wishes to operate and manage the invested power plant in Atauru island.

“The budget for this project is 70% from the government of Korea and 30% from the company, and Korean company ELT will operate and manage the invested power plant in Atauro for 10 years. These 10 years of operation will guarantee the maintenance and sustainability of providing renewable energy for the population in Atauro” She said

At the signing of the agreement, the Minister of Public Work, Abel Pires admired this project and believes that by signing the Memorandum of Understanding, the project would be able to successfully deliver power to the Atauro population: “This project is a significant day in our history because, for the first time, we are implementing the renewable energy project in Atauro. As we all know, Atauro is a wonderful tourist destination, and now we want to establish a renewable energy power center there to help boost Atauro’s profile,”

“This is possible because we have the support of our colleagues, partners from KOICA and ELT Company, who have helped this fund, and Timor-Leste will only buy from them very cheaply; now we sell to our population at 12 cents per KWH, but today we buy back from a company that seems to be 5 cents, so we can reduce it by half,” The Minister told journalists after signing an agreement in the Ministry of Public works Hall, Caicoli, Dili.

Pires noted that the project will help the entire population of Atauro during the day when the weather is fine and the sun is shining;” we hope to implement a larger battery to cover the renewable energy throughout the day,”

Regarding the implementation of the project, Minister Pires confirmed that Next week will finalize the contract to purchase the energy.

“The draft is complete. Mr. President of EDTL, we thank the team at EDTL for their hard work today; we can achieve this result, and we hope to launch the project in early April,’’ he said

This signature ceremony was participated by the President of Electricity of Timor-Leste Public Enterprise (EDTL.EP), Paul da Silva, the President of the National Electricity Authority of the Public Institute (ANE.IP), Ruben Jeronimo Freitas, a representative of the Ministry of Finance, and the Electronic Life Technology team also witnessed the signing of the Memorandum of Understanding including the company from ELT.

The signature of the MoU was made last march 23, 2023 on the KOICA inclusive Business Solution (IBS) program of the implementation of “the project for clean energy to reduce inequality in Atauru island.

The budget of this project is 70% funded by the South Korean Government and 30% responsible by Company. This project will be implemented for 10 years.

Journalist: José Belarmino De Sá

Editor: Nelia B.

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