Energy Fiji Ltd (EFL) and the Asian Development Bank (ADB) yesterday signed an agreement confirming the appointment of ADB as transaction adviser to EFL to support Fiji’s renewable energy goals.
With EFL’s stated intent of being able to meet more than 90 percent of Fiji’s electricity demand via renewable energy sources by 2035, the ADB is helping the company to put together a portfolio of renewable energy projects and will also help in securing funding for the upgrade of EFL’s national electricity grid network to be able to support the new energy sources as well as supporting infrastructure necessary to bring the energy produced onto the grid.
“ADB is pleased to support EFL’s efforts to develop and expand their supply of energy from alternate renewable sources, such as solar and wind, through public-private partnerships that would make space for independent power producers to operate,” said ADB’s regional director of the Pacific Subregional Office Aaron Batten.
EFL chairman Rokoseru Nabalarua said in terms of electricity generation, EFL right now produces 55 percent of it is out of renewable and 45 percent out of fossil fuel.
“We thank ADB for working with us to put the proposal together that went up to the global climate fund and from there, we were able to get some quite good funding assistance and I understand that we are one of the first ones that were granted with this assistance.
“Hence we will work very closely with ADB in terms of some of the initiatives that we will do on our transmission system and also help in terms of development of renewable either by EFL or independent power producers,” Mr Nabalarua said.
The agreement was signed in the presence of ADB senior director for Energy Priyantha Wijayatunga and EFL’s board members and has been slated as high priority work for the two entities.
Renewable energy deal signed – The Fiji Times
