News Column

Fiji : ANZ Fiji allocates $5mln fund for energy boosting

June 26, 2014

ANZ Fiji announced that it has become the fund manager and taking part in financial institution for a facility of $US5million ($F9.2m).

The fund will be use to help customers purchase renewable energy equipment. According to ANZ Pacific and Fiji CEO Vishnu Mohan, the equipment would support 3 renewable energy technologies that are solar PV, pico-hydro and coconut oil biodiesel.

Till now, the commercial bank has funded about $14m under this move, which was developed under a "risk sharing fund" agreement. He further added that this aligns perfectly with ANZ Group's promise to help customers with the transition to a low carbon future.

Mr Mohan commented during the Pacific Islands Development Forum (PIDF) second Summit in Nadi last week, that they refreshed their collaboration with the World Bank and Fiji'sDepartment of Energy to backing the sustainable energy project.

He stated "ANZ has been a key partner in syndicating with the China Development Bank for funding of the multi-million dollar Fiji Electricity Authority's Nadarivatu hydro dam scheme, for which we are now the sole financier."

"We want to help provide such a foundation for the nations of the Pacific to grow, through responsible and sustainable business practices for the sake of our customers, our people, communities, suppliers and the environment," he further added.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: TendersInfo (India)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters