Energy Fiji Ltd (EFL) and the Asian Development Bank (ADB) have officially confirmed ADB’s role as transaction adviser to EFL in a recent agreement aimed at advancing Fiji’s renewable energy initiatives. EFL aims to fulfill over 90 percent of Fiji’s electricity demand through renewable sources by 2035. ADB’s involvement will assist EFL in developing a comprehensive portfolio of renewable energy projects and obtaining funding for enhancements to the national electricity grid. This infrastructure is essential for integrating new energy sources into the grid.
ADB’s regional director for the Pacific Subregional Office, Aaron Batten, expressed satisfaction in supporting EFL’s transition to renewable energy, including solar and wind options, by facilitating public-private partnerships that create opportunities for independent power producers.
Currently, EFL generates 55 percent of its electricity from renewable sources and 45 percent from fossil fuels, according to EFL chairman Rokoseru Nabalarua. He acknowledged ADB’s collaboration in securing financial assistance from the global climate fund, marking EFL as one of the first beneficiaries of this support.
Mr. Nabalarua affirmed that EFL will closely collaborate with ADB on initiatives related to their transmission system and the advancement of renewable energy, both through EFL and independent producers. The agreement was signed in the presence of ADB senior director for Energy Priyantha Wijayatunga and EFL’s board members, highlighting the high priority of this project for both organizations.