EFL seeks $2b boost for Fiji’s renewable energy push

Energy Fiji Limited (EFL) is pursuing a coordinated international financing package to deliver the country’s largest-ever energy infrastructure programme as Fiji works toward its target of 90 per cent renewable energy by 2035.

At a Development Partners Roundtable today, EFL outlined plans for two major hydropower developments, 165 megawatts of solar power with battery energy storage systems (BESS), and nationwide transmission network upgrades valued at approximately $2 billion.

The closed-door meeting, held at the Asian Development Bank (ADB) Head Office in the FHL Tower, brought together senior representatives from the World Bank Group, ADB, Asian Infrastructure Investment Bank, Japan International Cooperation Agency, European Investment Bank, and other development partners.

EFL chief executive officer Fatiaki Gibson told partners the investment pipeline “is the backbone of Fiji’s future energy system” and will require blended financing through grants, concessional loans, guarantees, and private sector participation.

The programme includes “two major hydropower developments, Qaliwana and Vatukokoto”, expected to add significant firm capacity to the national grid.

Permanent Secretary for Finance Shiri Gounder reaffirmed government support while noting competing demands for concessional funding, including health, water infrastructure, and rural development.

“We are encouraging EFL for all these major projects to look for external financing,” Mr Gounder said, adding that government stands ready to provide guarantee support and “mobilise concessional financing if need be, if that helps us leverage a bigger pool of financing from other sources.”

Currently, 55 per cent of Fiji’s electricity is generated from hydropower and 45 per cent from fossil fuels.

The programme aims to reduce fossil fuel reliance while keeping tariffs affordable for households and businesses.

A second roundtable is scheduled for March 2026 to finalise financing commitments.