The private sector has the potential to bring in millions of dollars in investment, particularly for renewables.

This has been highlighted by the Thematic Working Group on Energy and Electricity at the 2023 National Economic Summit.

According to Chair, Katerina Syngellakis, the private sector has not played its full role.

She says energy is the driver of the economy for all sectors and can’t achieve the planned GDP growth without addressing the issues arising for the energy sector.

“Every electricity interruption of supply is a loss for GDP, it disrupts our business and is a priority therefore to upgrade electricity infrastructure, and energy infrastructure and make it climate resilient and yes it’s a tough ask because we heard about all the constraints on finance but for every dollar we invest today we really going to save $5 or even more in the future, that’s what the study shows especially in addressing climate resilience of energy sector.”

Syngellakis says the energy sector planning needs to happen at a national level led by the government with inputs from others.

She says while there is access to electricity, the level of service and the number of hours and availability is an issue.

It was also noted that Fiji is falling behind in the energy sector when it comes to technology.

The study group says that there is an urgent need to review the electricity act as there are many policies that support renewable energy, but the legislation is completely technology neutral.

Syngellakis also says there has been under investment in the last few years.