ITP Renewables helped contribute to the revitalisation of the renewable energy market in Fiji, especially where Independent Power Producers are concerned. The project was divided into three components:
- Review and development of an appropriate and standardised Power Purchase Agreement (PPA) for Fiji The development of the new PPA focused on two core themes: appropriate recognition of the existing PPA approach and the interests of the FEA; and balancing counterparty risk and reward. Thus it aimed to maintain a very robust and risk adverse approach to the PPA frameworks, while encouraging interest and investment and appropriately mitigating risk for off take counter parties.
- Formulation of an investment promotion package, and organisation of an investor’s forum This involved extensive discussions with stakeholders and government agencies to identify and list potential renewable energy projects. The Fiji Renewable Energy Forum 2015 was held on 9th April 2015 and attended by over 100 participants.
- Assessment and development of renewable energy incentive schemes for Fiji Firstly the existing subsidies and incentives for renewable energy investment were assessed according to the criteria of effectiveness, efficiency, equity and administrative effort. Then new or modified renewable energy incentive schemes were proposed for Fiji. The process for designing, implementing and evaluating such schemes was discussed, as were the parties involved.