Energy Fiji Ltd (EFL) is gearing up for a significant $2 billion green energy transition over the next four years, which is set to include collaboration with potential independent power producers (IPPs). This announcement was made by EFL board chairman Rokoseru Nabalarua during a media conference in Suva, where the appointment of Fatiaki Gibson as the new head of the partly state-owned power utility was also unveiled.
Half of the $2 billion investment will target the development of 165 megawatts of solar energy, necessitating strong partnerships with IPPs. Nabalarua emphasized the importance of these collaborations, stating, “We can’t just do it alone,” and highlighted the need for government support to create incentives that encourage IPPs to invest in the renewable energy sector.
The balancing act involves also coordinating with the Fiji Competition and Consumer Commission (FCCC) to ensure stable tariffs, making it an attractive prospect for investors. This strategic partnership is vital for the sustainability of the energy industry, which plays a crucial role in the country’s economic development.
Nabalarua noted that energy is essential for any economy, underscoring the risks associated with power outages. To combat this, EFL is also contemplating a tariff review and is issuing tenders for the development of additional energy sources, including a 21MW solar facility in Fiji’s Western Division. This project will run alongside ongoing developments in hydroelectric power.
EFL’s long-term vision includes exploring various renewable energy sources, extending beyond solar to incorporate geothermal, wind, and modern technologies, further underlining the company’s commitment to transitioning towards sustainable energy.
The backdrop to this ambitious plan is marked by a growing demand for a reliable energy supply, which has surged recently due to increased economic activities. EFL’s proactive steps reflect a dedication to ensuring that Fiji can not only meet its energy needs but also invest in sustainable growth and innovation for the future.
Overall, the advancements in Fiji’s energy sector are promising, as the collaboration with IPPs and the pursuit of diverse renewable technologies point towards a more sustainable and resilient power infrastructure in the coming years.
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