The Climate Finance Unit, is a cross cutting section responsible for strategizing existing and new mechanisms to mobilize innovative climate finance. This unit also holds the responsibility as the secretariat to the Fiji Rural Electrification Fund (FREF) initiative, which aims to be a sustainable venture providing clean and affordable electricity to outer and rural communities.
FREF was a result from Fiji’s leadership as the Presidency of the 23rd Conference of Parties (COP 23) held in Bonn, Germany. This initiative aims to bring clean, renewable electricity to outer and rural communities in Fiji that are not currently served by the main electric power grid. FREF uses a revolving fund structure under which affordable monthly tariff payments for rural communities combined with grant financing received from development and donor partners that are placed into a trust fund and used to electrify additional rural communities throughout Fiji.
With the success of Phase 1 on Vio Island, over the next ten years, FREF plans to electrify approximately 300 outer and rural communities with innovative renewable energy solutions financed through a blended financing approach.
The below Infographic depicts an in-depth project details on the FREF programme:
