Chugoku and JBIC-backed Sevens Pacific to acquire a 44% stake in Energy Fiji.

Sevens Pacific, a joint venture between Chugoku and JBIC, agreed to acquire a 44% stake in Energy Fiji, a generator and distributor of grid-based power, from Fijian government. Financial terms were not disclosed. Prime Minister Voreqe Bainimarama says the Fijian Government had always aimed to secure a strategic investor in EFL who would align Fiji’s energy sector to international best practices and ensure the long-term development of robust renewable energy programs.