RENEWABLE ENERGY IN FIJI- US$30.51 Mil Climate Investment Fund to transform systems and enable the electricity grid to absorb and channel more clean power
Energy access in Fiji is dependent upon the area you live in. The more remote, the less possibility of connecting to electricity.
More than $69million (USD$30.51m) will be channelled to Fiji in highly concessional capital via the multinational development partner-funded Climate Investment Fund (CIF) – to transform systems and enable the electricity grid to absorb and channel more clean power.
The CIF governing board has endorsed the Fiji Renewable Energy Investment (REI) Plan – to improve climate resilience of existing transmission networks, scale clean energy transmission solutions, enhance flexibility of energy systems, and finance other efforts to make integrating renewable energy flexible, and cost-efficient.
Fiji’s challenges were unique among other CIF members, like private sector interest in the Pacific, the nature of climate risks faced, and the existing share of clean energy already in place.
Fiji was highly vulnerable to tropical cyclones, floods, and other climate-related disasters which cause extensive damage to our infrastructure, affect livelihoods, and impose substantial financial bearing on Government’s balance sheet almost every year.
The Climate Investment Funds – Renewable Energy Investment concessional resources will be blended with resources from multilateral development bank partners – Asian Development Bank (ADB), International Finance Corporation (IFC) and the World Bank – and private investment to finance projects that will support Fiji’s Nationally Determined Contribution commitment to achieving net zero annual emissions by 2050.
