Energy Fiji Ltd (EFL) has entered into an agreement with the Asian Development Bank (ADB), appointing ADB as the transaction adviser to assist EFL in achieving its renewable energy objectives for Fiji. EFL aims to generate over 90 percent of the country’s electricity using renewable energy sources by 2035.
The ADB will help EFL develop a portfolio of renewable energy projects and will assist in securing funding for upgrading the national electricity grid to accommodate new energy sources and the necessary infrastructure to integrate this energy into the grid.
Aaron Batten, ADB’s regional director of the Pacific Subregional Office, expressed the bank’s enthusiasm to support EFL in expanding its energy supply through alternative renewable sources, including solar and wind. This initiative will involve public-private partnerships, allowing independent power producers to participate.
Currently, EFL generates 55 percent of its electricity from renewable sources and 45 percent from fossil fuels, as noted by EFL chairman Rokoseru Nabalarua. He acknowledged ADB’s collaboration in preparing proposals that resulted in funding from the global climate fund, highlighting that EFL was among the first to receive such assistance.
Mr. Nabalarua emphasized the importance of close cooperation with ADB on initiatives concerning the transmission system and the development of renewable energy, whether through EFL’s efforts or those of independent power producers.
The agreement was signed in the presence of ADB senior director for Energy Priyantha Wijayatunga and EFL board members, marking it as a high-priority initiative for both organizations.