The project has the potential to transition as many as 14,000 households to solar energy.[Supplied]

Energy Fiji Limited and International Finance Corporation have signed a landmark agreement to deliver the largest solar project of its kind in the Pacific.

This has been hailed as a transformative step towards achieving the nation’s goal of sourcing 100 percent of its energy needs from renewable sources.

The project worth over $32m will reduce the country’s dependence on imported fossil fuels and cut harmful greenhouse emissions.

The project has the potential to transition as many as 14,000 households to solar energy.

The agreement allows EFL and IFC to now move forward with the selection of a private-sector partner in the project to deliver at least 15 megawatts of solar power to the national grid.

EFL Chief Executive Hasmukh Patel says the project will help them meet the demand for electricity which continues to grow with the ever-increasing demand from industries.

Patel says this will also assist them in expanding their reach and supply power to those in rural areas.

IFC Resident Representative in Fiji, Kiribati, Samoa, Tonga and Tuvalu, Deva De Silva says the private sector will be crucial in the Fijian Government’s target of sourcing 100 percent of its power generation from renewable energy by 2030.

IFC will also assist EFL in exploring potential renewable energy sources in Vanua Levu.