[Photo: SUPPLIED]
Ba is set to become the focus of a major renewable energy project that could add 100 megawatts to Fiji’s power supply.
Energy Fiji Limited has partnered with Neoteric Investments (Fiji) Pte Limited to develop the solar and battery storage facility.
The Memorandum of Understanding signed in Suva sets the groundwork for the two companies to complete technical, financial and regulatory checks before signing a Power Purchase Agreement.
EFL says the project will strengthen energy security by increasing renewable electricity generation and improving the reliability of the national grid.
The solar farm will be supported by a Battery Energy Storage System, allowing power generated during the day to be stored and used when demand increases.
EFL and Neoteric are aiming to finalise the Power Purchase Agreement within six months. Construction is expected to begin after financial close, with the project targeted for completion within 24 months.
EFL Chief Executive Officer Fatiaki Gibson states the agreement shows private sector confidence in Fiji’s renewable energy future.
He said the project was a major step in turning EFL’s renewable energy plans into actual infrastructure that will benefit electricity consumers.
Gibson says EFL is working with Government, development partners and investors to build a power system that is more reliable, resilient and powered by cleaner energy.
The project is part of EFL’s wider renewable energy programme, which includes investment in solar, hydropower, battery storage, transmission upgrades and modernising the electricity grid.
EFL said transmission improvements being developed with the Asian Development Bank would support the connection of new renewable energy projects to the national grid.
KPMG, EFL’s blended finance advisor, has also supported the project by helping develop financing options and strengthening discussions with investors and development partners.
EFL says further assessments and approvals will be completed before the final investment decision is made.
The company adds that the Ba solar and battery project is a key part of its push to increase renewable energy use and improve Fiji’s long-term electricity supply.
