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After signing a financing agreement with IFC (International Finance Corporation), a member of the World Bank Group, state-owned utility Energy Fiji is looking for a partner to develop the largest photovoltaic project in the Pacific.
A note released by the IFC revealed plans to install a 15 MW solar plant connected to Fiji's energy grid. The investment will be approximately US$ 15 million.
According to the corporation, the project is supported by the governments of Australia, New Zealand and Denmark.
The IFC also highlighted that it intends to examine the renewables potential of the country's second largest island, Vanua Levu. The goal is to implement a system entirely powered by renewable energy by 2030.
Also according to the corporation, Fiji currently generates half of its electricity from hydroelectric plants – identified on the Energy Fiji website as 80 MW and 40 MW facilities in Viti Levu; 45% from fossil fuel imports; and 5% of biomass and wind plants. The country has a total generation capacity of 267 MW.
Santander Brasil signs agreement with IFC
Santander Brasil received from IFC a financing line of approximately R$ 560 million to boost access to credit for small and medium-sized companies. Of this total, half will be allocated to the sale of photovoltaic panels.
The loan is valid for one year and can be renewed once, for a period of another 12 months. This is the bank's third transaction with IFC since 2017.
Source: PV Magazine
