Energy Fiji Limited (EFL) recorded a $22 million profit in 2025, despite ongoing global economic uncertainty and continued volatility in international energy markets.
In the company’s 2025 Annual Report, recently tabled in Parliament, EFL Chairman Rokoseru Nabalarua said the positive financial result reflected the utility’s resilience and strong operational performance during a challenging year.
“Energy Fiji Limited delivered steady operational performance in 2025 despite global economic uncertainty and ongoing pressures in energy markets,” Mr Nabalarua said.
He said the company’s profit was driven by improved operational efficiencies and stable electricity sales.
“The Company recorded profit of $22 million, supported by improved operational efficiencies and stable electricity sales.”
Electricity demand also continued to rise during the year, increasing by approximately 2 per cent as economic activity expanded across Fiji’s commercial, industrial and residential sectors.
Mr Nabalarua said EFL remained in a strong financial position, reporting a 31 per cent debt-to-equity ratio, an asset-to-liability ratio of 2.2 to 1, and a gearing ratio of 23.87 per cent.
He said the company’s financial strength continued to attract lender confidence.
“Importantly, EFL continues to secure financing without Government guarantees, reflecting strong lender confidence in the Company’s governance, financial management and long-term strategy.”
According to Mr Nabalarua, the company’s financial performance provides the foundation needed to support major investment in Fiji’s electricity infrastructure.
“These results provide a stable platform from which the Company can proceed with the next phase of infrastructure investment required to support Fiji’s renewable energy transition.”
The report also outlines EFL’s long-term renewable energy strategy, targeting 60 per cent renewable electricity generation by 2029 and 90 per cent by 2035.
Mr Nabalarua said the transition would strengthen Fiji’s energy security, reduce reliance on imported fossil fuels and support long-term electricity tariff stability.
He added that the shift to renewable energy would also create new opportunities for investment, innovation and employment while helping Fiji meet its commitment to achieve net-zero emissions by 2050.
