The Fiji National Provident Fund confirms that investment in Fiji Electricity Authority suits FNPF’s profile and would allow the Fund to invest and grow members’ funds.
When questioned on whether FNPF is interested in buying shares in FEA, FNPF Chief Executive Officer Aisake Taito said the government has started an Expression of Interest process to look for potential investors in FEA.
Taito says being a strategic infrastructure asset for Fiji, investment in FEA suits FNPF’s profile.
The Ministry of Public Enterprise has invited expressions of interest from potential investors to participate in the partial divestment of government ownership in FEA.
The FEA serves around 165,000 customers across the main islands, leading to revenue of $292.9 million in 2013.
The Authority is responsible for the generation, transmission and retail of electricity in the larger islands - Viti Levu, Vanua Levu and Ovalau, which account for approximately 90 percent of the country’s population.
The investors will be selected based on financial capacity and proven investment track record.
Experience in power generation and transmission will be an added advantage.
The expressions of interest close on the 5th of June.
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