European Investment Bank provides $10M grant to FEA for feasibility study

The European Investment Bank has today announced that it will provide a $10 million grant to the Fiji Electricity Authority to carry out feasibility studies at the new lower Ba hydro scheme.

The technical assistance agreement between FEA and the European Investment Bank was signed yesterday.

Chairman of FEA Nizam Ud Dean says FEA’s ambition is to have 90% renewable energy by year 2025.

Dean says the main reason is that FEA is spending a huge amount of money on fuel.

He says last year’s fuel bill was $180 million.

Dean says with the feasibility study now signed off, they can build a hydro dam and deliver that extra amount of energy to renewable form into the FEA grid.