Fiji’s participation in COP 29 is essential as the country requires $4 billion in investment to reach its goal of 100 percent renewable energy. Ro Filipe Tuisawau, the Leader of Government in Parliament, highlighted this need while proposing changes to the Parliament sitting schedule for November and December, as several MPs are expected to attend the international climate discussions.
Fiji has set a target of achieving 81 percent renewable energy by 2021, but only 60 percent has been attained so far, primarily through hydroelectric power. Tuisawau pointed out that the nation has struggled to attract and maintain Independent Power Producers, which is crucial for securing funding for renewable energy projects.
To achieve its aim of 100 percent renewable energy by 2036, Fiji will need a total of $4 billion in investments from 2024 to 2036, with an estimated cumulative cost of $20 billion by 2050. The country is currently conducting a diagnostic study in collaboration with the International Renewable Energy Agency (IRENA) to further its renewable energy goals. Additionally, Tuisawau noted that fuel imports account for 26 percent of total import costs, amounting to around $1.03 billion.