At a time when improving energy resilience against climate-related challenges and reducing exposure to volatile international fuel prices remain critical issues for the country, Energy Fiji Limited and the Fiji National Provident Fund are working towards establishing a strategic Joint Venture Agreement to support Fiji's ambitious renewable energy development programme, representing an investment pipeline of approximately $2 billion over the coming years.
The proposed partnership will focus specifically on investing in new electricity generation projects that will significantly increase Fiji's renewable energy capacity while strengthening the nation's long-term energy security.
EFL Chief Executive Officer Fatiaki Gibson says the proposed partnership represents an innovative financing model that brings together Fiji's leading utility provider and one of the country's largest institutional investors, for the benefit of all Fijians.
Gibson says by working together with FNPF, they 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.
FNPF Chief Executive Officer Viliame Vodonaivalu says the proposed investment aligns with FNPF's commitment to delivering sustainable long-term returns for its members while actively contributing to Fiji's national growth and development.
He says infrastructure investments of this nature create lasting economic value and supporting renewable energy development provides an opportunity to invest in assets that contribute to Fiji's growth while delivering stable long-term returns for FNPF members.
Both organisations emphasise that discussions are progressing positively and remain subject to the
completion of detailed commercial, financial and governance arrangements, together with all necessary internal and regulatory approvals.
