Energy Fiji Ltd (EFL) and the Asian Development Bank (ADB) have formalized an agreement to appoint ADB as a transaction adviser to assist EFL in achieving Fiji’s renewable energy objectives. EFL aims to meet over 90 percent of Fiji’s electricity demand from renewable sources by 2035. ADB will help EFL create a portfolio of renewable energy projects and secure funding for upgrading the national electricity grid to incorporate new energy sources and the necessary infrastructure.
Aaron Batten, ADB’s regional director for the Pacific Subregional Office, expressed ADB’s commitment to support EFL in developing energy from alternative sources such as solar and wind through public-private partnerships, enabling independent power producers to contribute.
EFL chairman Rokoseru Nabalarua noted that currently, EFL generates 55 percent of its electricity from renewable sources and 45 percent from fossil fuels. He acknowledged ADB’s collaboration in preparing a proposal that secured funding from the global climate fund, marking EFL as one of the first recipients of this assistance.
Mr. Nabalarua emphasized the importance of working closely with ADB on initiatives related to their transmission system and the development of renewable energy by EFL and independent power producers. The agreement was signed in the presence of ADB’s senior director for Energy Priyantha Wijayatunga along with EFL board members and is considered a top priority for both organizations.