Solomon Islands Electricity Authority

Accountable Ministers

Minister for Finance and Treasury and the Minister for Mines, Energy and Rural Electrification

Responsible Minister
Minister for Mines, Energy and Rural Electrification

Board of Directors

Director Position Expiry
Mr. David K.C.Quan Chairman 28/03/2023
 Mr. James Habu  Member  17/12/2025
Mrs. Lilly Lomulo Member 17/17/2025
Mr. Muriel Dakamae Member 17/12/2021
Mr. James Apaniai Member 17/12/2021


Activities
Solomon Islands Electricity Authority (SIEA), trading as Solomon Power, is a State-owned Enterprise established under the Electricity Act 1969 to provide electricity services in urban areas of the country (currently Honiara and nine provincial centres). SIEA is subject to the State-owned Enterprises Act 2007 and State-owned Enterprises Regulations 2010, and its tariff is calculated in accordance with the The Electricity Tariff (Automatic Base Tariff and Fuel Tariff Adjustment) Regulation 2005.

Solomon Power is governed by a board of directors that is responsible to the Accountable Ministers, being the Responsible Minister and the Minister of Finance. The Responsible Minister is the Minister responsible for Energy, Mines and Rural Electrification.

Vision and Mission
Solomon Power’s Vision is “Energising Our Nation” with the mission “to provide a safe, reliable, affordable and accessible supply of electricity to the Solomon Islands”.

Community Service Obligations
Solomon Power since 2018 had never received any community service obligations (CSOs). After 2018 until present Solomon Power did not submit any CSO proposal as their financial capacity allows them to self-finance their non-commercial operations in outer stations.

Financial Highlights

 (SBD ‘000) 2021 2022 2023 2024 2025 5-yr Average
Revenue  467,205 584,492 589,961 653,368 602,861  579,577
Net Profit After Tax  74,322 75,700 50,368  50,368 42,428 58,803
CSO payments 0 0 0 0 0  0
Total Assets  1,656,705 1,755,919 2,000,073  2,041,902 2,114,913  1,913,902
Total Liabilities  223,647  251,161 244,928 233,546 267,128  244,082
Shareholders’ Funds 1,433,058 1,504,758  1,755,145 1,808,357 1,847,785  1,669,821
ROE %  5% 5% 3%  3% 2% 5%
ROA % 4% 4%  3%  3% 2% 5%
Asset Utilization  28% 33% 29%  32% 29% 30%
Cash / Current liabilities 5.712 3.316  2.833 4.602 3.502 3.99

SIEA Financials

 

The average revenue collected by SIEA during the 5-year period is total of $579.58 million SBD, revenue collection remains consistent every year for SIEA as reflected on chart trend. On the other hand, expenses have grown parallel with the revenue trend and highlighting that cost of fuel is the major expenses of SIEA. The average profit earned between 2021-2025 is total of $58.80 million SBD, SIEA’s profitability has remained consistent during this 5-year period. Solomon Island Electricity Authority Power still remains as the second highest profitable SOE compared to other SOEs in the Solomon Islands. The average total assets of SIEA during the 5-year period is total of $1.91 Billion SBD, as highlighted on the trend Solomon Power total assets each year has gradually increase which was driven by acquiring additional assets in the capital and provincial outstations, increase of customers base and network extensions. However, the ROE and ROA trend has gradually declined as SIEA’s major capital assets are now aging and nearing its end of life.

Hence, in their latest Statement of Corporate Objectives highlights that Solomon Power enters 2026 with a clear focus on advancing renewable energy and delivering affordable tariffs, in line with its vision of “energising the nation.” The Corporate Strategy Plan 2022–2027 continues to provide the framework for this work, anchored on five strategic themes: an effective business model, financial sustainability, engaged stakeholders, robust infrastructure, and committed environmental and social safeguards.

 

Important Documents

Statement of Corporative Objectives

Annual Report:  2014 I 2016 I 2017 I 2022 I 2023 I 2024 I 2025

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