Energy Fiji Limited (EFL) and the Fiji National Provident Fund (FNPF) are working towards a strategic joint venture that could see around $2 billion invested in renewable energy projects over the coming years.
The proposed partnership will focus on developing new electricity generation projects to significantly expand Fiji’s renewable energy capacity while strengthening the country’s long-term energy security.
The initiative supports the Government’s goal of accelerating the transition to cleaner and more sustainable energy through investments in hydro, solar, battery energy storage and other renewable technologies, reducing Fiji’s dependence on imported fossil fuels.
EFL Chief Executive Officer Fatiaki Gibson said the proposed joint venture would bring together Fiji’s leading electricity provider and one of the country’s largest institutional investors to help finance major renewable energy developments.
“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.”
FNPF Chief Executive Officer Viliame Vodonaivalu said the investment aligns with the Fund’s responsibility to deliver sustainable long-term returns while contributing to national development.
“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.”
According to the two organisations, the proposed joint venture is expected to increase electricity generation capacity to meet growing demand, improve resilience against climate-related challenges and reduce Fiji’s exposure to volatile international fuel prices.
They also expect the programme to generate broader economic benefits through job creation, increased business activity, technology transfer and new opportunities across the construction, engineering and renewable energy sectors.
EFL and FNPF said discussions are progressing positively but remain subject to the completion of detailed commercial, financial and governance arrangements, as well as all necessary internal and regulatory approvals.
The two organisations said they will continue working with the Government, regulators, development partners and other stakeholders to ensure the proposed partnership delivers long-term value for Fiji while helping build a cleaner, stronger and more sustainable energy future.
