The Climate Change and Development Authority (CCDA) and accredited entity to the GCF, Asian Development Bank, are developing the proposal.
The renewable energy project could be a combination of solar, both terrestrial and rooftops, and wind, with several potential sites under study.
CCDA/ADB consultant Dennis Fenton said renewable energy has the potential to displace diesel.
Fenton said with currently 50 percent of energy used in Moresby coming from diesel, renewable energy is good for reducing greenhouse gas (GHG) emissions.
He explained that the energy demand is there and there are partners who are willing to implement the project.
“GCF is interested in proposals that show how GHG emissions can be reduced and this project has potential,” Fenton said.
He added that there are challenges that can be overcome, like wind energy data and some land issues.
This investing in renewable energy for Port Moresby proposal is among the five proposals in the transport and energy sector that PNG is preparing to submit to GCF.