Plans to Build 2 Hydro Plants
THE TWO HYDROPOWER PLANTS WILL COST MORE THAN $200 MILLION TO BUILD
Energy Fiji Limited is planning to build two more hydropower plants. The two hydropower plants would be at Qaliwana in Naitasiri, and Vatukokoto in Ba.
It would cost more than $200 million to construct one of the hydropower plants, says the Energy Fiji Limited chief executive officer Hasmukh Patel.
He said the Government would need to borrow money in order for the project to take place.
Mr Patel confirmed the European Investment Limited was ready to lend the money to Fiji.
“As you may know the Government has a renewable target as well as Energy Fiji Limited. For obvious reasons, we need to combat climate change,” he said.
Another study would need to be conducted before the project kick starts, he said. “Before embarking on these projects we needed to establish the economic and technical facility impact of the project,” he said.
“The European Investment Bank three years ago had paid for an Italian consultant to carry out the cost and the charging rate was $10 million. It was a grant.
“It was delayed because of the coronavirus pandemic but it’s been completed and they have presented the final report to us,” he said.
He said the report of the Italian consultants would be reviewed by a second party. “It will take us a few months for it to be completed,” he said.
“The Energy Fiji Limited will then be in the position to decide whether they should embark on the project.”
Apart from this, Government has a number of solar projects on Viti Levu, Vanua Levu, Ovalau and Taveuni.
“We will start in Taveuni over the next few months,” he said.
European Union ambassador Sujiro Seam said they support Government’s and Energy Fiji Limited work moving towards renewable energy.
The European Investment Bank had expressed interest in further supporting the Government and Energy Fiji Limited with the development of the hydro-electric schemes, he said.
Mr Seam said the support was formalised through the signing of a letter of intent between Energy Fiji Limited and European Investment Bank.