Fiji will need approximately $4 billion in investments from 2024 to 2036 to meet its goal of achieving 100 percent renewable energy. This goal will be a key topic for Fiji’s delegation at the upcoming COP 29 meeting in Baku, Azerbaijan, where they aim to secure climate financing for energy and infrastructure projects.
Public Works Minister Ro Filipe Tuisawau addressed Parliament, emphasizing the importance of the COP meeting due to the significant impact of climate change on Pacific Island nations. He noted that Fiji has set a target for universal electricity access and aims for 81 percent of its energy to come from renewable sources by 2021. However, the country has only achieved 60 percent of this target, primarily through hydroelectric energy.
Ro Filipe acknowledged that Fiji has struggled to attract and maintain independent power producers and stressed the need for effective outreach and funding to support renewable energy initiatives. He outlined that achieving 100 percent renewable energy by 2036 will require a total investment of $4 billion, with projected cumulative costs of $20 billion by 2050.
Additionally, a diagnostic study is being conducted with the International Renewable Energy Agency to advance these goals. He highlighted that fuel imports account for 26 percent of Fiji’s total import costs, which is roughly $1.03 billion, and aging infrastructure presents further challenges. Ro Filipe emphasized the need for climate-resilient infrastructure to address the associated costs of climate change.