Fiji eyes $100 million solar investment boost

Fiji is poised to attract significant private sector investment in solar energy, potentially reaching $100 million over the next two years. This projection comes as progress is made on establishing the Solar Technology Application Resource Centre (STAR-C) at Fiji National University's Samabula Campus.

International Solar Alliance Director General Ashish Khanna highlighted that solar energy and energy storage are critical components for Fiji to achieve its ambitious target of 100 percent renewable energy within the next five years. This transition is vital for reducing the nation's reliance on diesel, particularly across its approximately 300 islands.

“

So, one of our key objectives is, how can Fiji accelerate to meet its target of 100 percent renewable energy in the next five years, where solar and storage will be very critical across all elements, whether it is solar rooftops… about 300 islands… reducing the reliance on diesel through solar. And to do it all you need good local capacity.

Khanna emphasized that realizing this goal necessitates strengthening local expertise across the energy sector. This includes developing the skills of engineers, technicians, policymakers, utility company staff, private sector representatives, and financial institutions. The STAR-C initiative at FNU is designed precisely to cultivate this essential local capacity and foster scalable renewable energy business models.

“

The first is we are at FNU on the inauguration of a regional centre of excellence that we call STAR-C. This is just a start of a journey of building local capability which is very essential for an ecosystem… engineers, technicians, policy practitioners, EFL staff, private sector and financing people to be learning how to do scalable business models.

Globally, private capital finances about 95 percent of clean energy projects. Experts suggest Fiji must implement clear policies, streamline approval processes, and ensure strong governance to effectively attract more private investment. Prime Minister Sitiveni Rabuka noted that transitioning to renewable energy offers substantial economic benefits beyond environmental protection.

Rabuka stated that the shift to renewables can significantly reduce Fiji's vulnerability to imported fossil fuels and the volatile price shocks they impose on an isolated Pacific economy. He concluded that strengthening domestic renewable energy capacity is therefore not only an environmental priority but also a critical economic and national resilience priority for Fiji.

“

The transition to renewable energy can reduce exposure to the imported fossil fuel and the shocks that those can cause on an economy isolated like ours here in the Pacific. Strengthening domestic renewable energy capacity is therefore not only an environmental priority, it is an economic and national resilience priority.