FNPF explores $2 billion renewable energy joint venture with EFL

The Fiji National Provident Fund (FNPF) is exploring one of its largest potential infrastructure investments through a proposed joint venture with Energy Fiji Limited (EFL)aimed at developing renewable energy projects valued at about $2 billion.

The initiative would allow FNPF to invest members’ funds into strategic national infrastructure assets while supporting Fiji’s transition to cleaner energy sources.

FNPF chief executive officer Viliame Vodonaivalu said the proposal aligns closely with the fund’s long-term investment strategy.

"Infrastructure investments of this nature create lasting economic value. Supporting renewable energy development provides an opportunity to invest in assets that contribute to Fiji's growth while delivering stable long-term returns for our members," Mr Vodonaivalu said.

He said renewable energy projects offer opportunities to generate sustainable returns while supporting economic growth.

“Supporting renewable energy development provides an opportunity to invest in assets that contribute to Fiji’s growth while delivering stable long-term returns for our members,” Mr Vodonaivalu said.

The proposed investment pipeline includes new electricity generation assets expected to increase supply capacity, improve resilience against climate-related disruptions, and reduce exposure to fluctuating global fuel prices.

EFL chief executive officer Fatiaki Gibson said the partnership could unlock major capital investment needed to expand Fiji’s electricity generation network.

"Fiji's energy future requires significant long-term investment. By working together with FNPF, we are exploring a partnership that will unlock capital for major renewable generation projects while ensuring that Fiji continues its transition towards affordable, reliable and sustainable electricity. This is about investing today to secure Fiji's energy future for generations to come."

Both organisations said discussions were progressing positively but remain subject to final approvals and detailed commercial arrangements.

EFL and FNPF remain committed to working collaboratively with Government, regulators, development partners and other stakeholders to ensure the proposed partnership delivers long-term value for Fiji and its people.