ENERGY Fiji Limited (EFL) is looking to spend $2billion in its capital expenditure on projects it will undertake in the next four to five years.
EFL chief executive officer Fatiaki Gibson revealed this while presenting on Energy Security and Resilience in Fiji at the 20th Asia Clean Energy Forum that was held in Manila, Philippines early this month.
Mr Gibson presented the company’s investment plans required to keep lights on and meet renewable energy targets until 2029.
He said solar generation would see an investment of $200million with co-investment in grid scale solar farms.
The others include:
– Transmission assets – $731m to strengthen and expand the grid;
– Control centre upgrades – $39m to improve operability of the grid with new generation mix;
– Hydro generation: $363m for new lower Ba River project; and $290m for new upper Wailoa River project; and
– Thermal generation: $251m for new power stations at Vuda, Kinoya and Labasa; and $62m for upgrades to existing plants.
He said EFL would continue to focus on thermal generation in its transition to renewable energy to ensure the lights remain switched on.
“Basically, we’re looking at a $2b CAPEX to be spent in the next four-five years,” Mr Gibson said in his presentation.
He also outlined the EFL’s 10-year target up to 2035 with the focus on its transition plan to achieve its 90 per cent renewable energy target.
“This is where we want to be in the next decade starting from 2025. We got target of 60 per cent of electricity from renewables by 2029, and 90 per cent (renewable generation) by 2025,” Mr Gibson said.
That will comprise hydro, solar, reduced diesel, bit of wind and hybrid which is a bit of geothermal and future energy sources that are still being attempted to be developed.
Mr Gibson said EFL was looking at a blended financing strategy, that included exploring the Climate Investment Fund (CIF), banking syndicates from local commercial banks, and also potential investments of Independent Power Producers (IPPs) into Fiji, and the utility balance sheet.
Mr Fatiaki and FCCC chief executive Senikavika Jiuta represented Fiji to the Forum held from June 2-6 under the theme ‘Empowering the furure: Clean energy, innovation, regional cooperation and integration, and financing solutions’.
Note: This article was first published on the print version of the Fiji Times dated June 20, 2025
