Energy Fiji Ltd (EFL) and the Asian Development Bank (ADB) signed an agreement confirming ADB’s role as a transaction adviser to EFL, aimed at supporting Fiji’s renewable energy objectives. EFL aims to meet over 90 percent of the country’s electricity demand through renewable sources by 2035. ADB will assist in developing a portfolio of renewable energy projects and securing funding for upgrades to EFL’s national electricity grid. This will enable the integration of new energy sources and the necessary infrastructure to deliver this energy to the grid.
ADB’s regional director of the Pacific Subregional Office, Aaron Batten, expressed enthusiasm for collaborating with EFL to enhance energy supply from renewable sources like solar and wind, emphasizing the importance of public-private partnerships and the role of independent power producers.
Currently, EFL generates 55 percent of its electricity from renewable sources and 45 percent from fossil fuels, as stated by EFL chairman Rokoseru Nabalarua. He acknowledged the support from ADB in creating a proposal for the global climate fund that resulted in significant funding assistance, noting that EFL was among the first to receive this support.
Mr. Nabalarua emphasized the intention to closely collaborate with ADB on initiatives related to their transmission system and the development of renewable energy, whether through EFL or independent power producers. The agreement was signed in the presence of ADB senior director for Energy Priyantha Wijayatunga and members of EFL’s board, marking it as a high-priority project for both organizations.