SUVA, May 22 (Xinhua) -- Two South Korean renewable energy companies are pursuing the option of investing in Fiji's energy sector soon, local website Fijilive reported here Tuesday.
Fiji's Ambassador to Japan and Korea Isikeli Mataitoga was quoted as saying that the South Korean companies utilizing renewable energy, which are operated by Kenertec Company Limited, is seeking registration as an Independent Power Producer (IPP) in Fiji.
Mataitoga made the remarks after his recent visit to South Korea, during which he visited one of the two companies, the Seodaegu Energy Company Limited. It is a biomass power plant and supplies power to an industrial complex using biomass such as wood and saw dust.
The company operates similar power plants in the Philippines and Cambodia and is looking at investing in Papua New Guinea and Fiji, according to Mataitoga.
Highlighting the importance of the energy development in the island region, Solomone Fifita, head of the Secretariat of the Pacific Community (SPC) Economic Development Division's Energy Program, said that the regional countries, including Fiji, have embraced renewable energy and energy efficiency as a means of shielding their economies from the impacts of volatile oil prices.
They must, however, go even further and include the adoption of fiscal, financial and regulatory measures that can set the enabling environment for meeting their targets, and most aim to increase the amount of energy they get from renewable energy sources, Fifita says.