EFL’s $2b energy programme gains momentum

Energy Fiji Limited's (EFL) $2 billion renewable energy programme took a major step forward yesterday as the country's top development partners gathered in Suva to move from planning to delivery.

The second Development Partners Roundtable, held at the ADB office in FHL Tower, brought together senior representatives from the World Bank Group, Asian Development Bank, European Investment Bank, and others to advance co-financing arrangements for the programme.

EFL chief executive officer Fatiaki Gibson told partners that the time for planning had passed.

"Value is not created in documents. It is created in implementation," Mr Gibson said.

The $2 billion programme includes 165 megawatts of solar power with battery storage, two major hydropower projects at Qaliwana and Vatutokotoko, nationwide transmission upgrades, and replacement of ageing assets.

The aim of the programme is to reach 100 per cent renewable electricity by 2035.

For ordinary Fijians, the programme matters because it directly targets the country's dependence on imported fuel for electricity generation.

Currently, 45 per cent of Fiji's power comes from fossil fuels — a vulnerability that has contributed to ongoing fuel supply pressures and energy security concerns.

Nemia Dawai, Head of Budget at the Ministry of Finance, said the transition was both urgent and supported at the highest levels of government.

"This collective effort is especially critical given the current challenges we face with fuel supply and energy security," Mr Dawai said.

KPMG Australia partner Scott Mesley, whose firm is advising EFL on the blended financing strategy, said the day's focus was clear.

"The theme today is very much about how we move as quickly as we can to expedite as many of the projects as we can," Mr Mesley said.

The programme is expected to be financed through a mix of concessional loans, grants, guarantees, and private capital.