The governing board of the Climate Investment Funds (CIF) has approved energy integration investment plans, totaling USD 100 million (EUR 93.5m), for the governments of Costa Rica and Fiji. Under the auspices of CIF's Renewable Energy Integration (CIF REI), Costa Rica's plan, with a budget of USD 70 million, has received an initial allocation of USD 45 million. Meanwhile, Fiji has secured an initial allocation of USD 30.51 million for its renewable energy integration initiative.
Costa Rica's plan focuses on the modernization of its electrical grid to accommodate the increased penetration of new renewable energy sources. The ambitious program includes the installation of 724,000 advanced metering system units, providing smart meter coverage for over two-thirds of the country.
Additionally, plans involve the deployment of electric vehicle (EV) charging infrastructure for 185 buses, the replacement of 5% of existing fossil fuel-based industrial boilers with electric alternatives, and concurrent efforts to reduce carbon dioxide (CO2) emissions and service costs.
In parallel, Fiji aims to boost its renewable energy generation capacity by 40 MW, delivering an additional 91,104 MWh of renewable energy output annually by 2026. This initiative aligns with the island's broader objective to achieve 100% renewable energy generation by 2036. The plan is further supported by the Asian Development Bank (ADB) and the World Bank's International Finance Corporation (IFC).
