The Asian Development Bank has been appointed as the transaction advisor to Energy Fiji Limited to advance Fiji’s renewable energy goals under its National Energy Policy 2023-2030.

ADB’s Director of the Office of Markets Development, Siddhartha Shah, says Fiji’s electricity is primarily generated through hydropower; however, the country also relies on fossil fuels due to hydropower variability.

He adds the ADB will assist EFL in expanding renewable energy sources, such as solar and wind, through public-private partnerships.

“Many factors will go under the timeline, but I think our focus is that we should be able to start the procurement process for this new project sometime next year.”

Shah adds they will introduce independent power producers and encourage competition, lowering energy costs.

He says the expanded renewable energy supply will be supported by upgraded transmission lines, funded by the Climate Investment Funds.