Support for electric vehicle
28 February, 2023, 4:00 pm
IN its efforts to promote sustainable transportation, the Fiji Development Bank (FDB) is now reportedly the leading financial institution to provide lending to introduce Electric Vehicle (EV) Charging Stations in Fiji.
FDB is the lead funder for Leaf Capital Pte Ltd’s EV charging stations at Kundan Singh and Mana Coffee.
The charging stations use solar energy generated through the solar panels that will be mounted on the Kundan Singh and Mana Coffee building roofs.
Manager Climate & Eco-Finance at FDB Setaita Tamanikaiyaroi said this was a start and FDB through its Climate & Eco Finance Strategy commits to financing electric vehicle infrastructure to pave the way towards decarbonising Fiji’s land transport sector.
FDB is promoting electric vehicle financing that businesses can take advantage of. Founder and CEO of Leaf Capital Alex Reddaway said their vision of creating a systematic change in the transport industry fits well with FDB’s commitment to reducing Fiji’s carbon footprint by lending to green projects.
“FDB is playing the catalyst role by providing the finance required to scale projects that will be essential if we are seriously looking to achieve the 1.5-degree target for global warming.
“It is commendable how the development bank has recognized the potential of e-mobility in Fiji and has been willing to take a risk on a startup promoting technology that is completely new to the region” Mr Reddaway said.
“Through this project, we are encouraging people to switch away from fossil fuels and embrace renewable energy-focused transport – clean, cheap and good for the people and, often forgotten, fun to drive.”
Mr Reddaway highlighted that he was looking forward to the launch of additional charging stations that have already been installed along the Coast and at RB Patel’s Jet Point in Nadi in the coming weeks, as well as announcing three new sites.
The Nadi-Suva route should be operational by the second quarter of this year and he hopes to have charging stations installed all around Viti Levu by the end of 2023 before expanding to Vanua Levu.