Funds have been secured to execute renewable energy projects with a capacity of 80 megawatts, Minister of Climate Change, Environment and Energy Thoriq Ibrahim has revealed. The projects are part of the government’s plans to augment the country’s reliance on renewable energy sources.
During a ceremony marking the signing of a contract with China’s CMIC Sinosa Consortium, Ibrahim stated that the strategic shift underscores the government’s commitment to a sustainable future and its proactive approach to addressing global climate change.
The project, contracted to the CMIC Sinosa Consortium as part of the Preparing Outer Islands for Sustainable Energy Development (POISED) initiative, will establish renewable energy hybrid systems across four atolls: Kaafu, Alifu Alifu, Alifu Dhaalu, and Vaavu.
The agreement stipulates the installation of 5.88 MW of solar power and 4.45 MWh of battery storage across 30 islands, costing the government US$16.1 million. This investment is projected to yield substantial returns, with an anticipated annual saving of MVR 33 million in fuel expenditure.
The government’s long-term objective is to ensure that by 2028, renewable energy sources account for 33 percent of total energy production, Ibrahim said. This will necessitate the establishment of energy systems capable of generating 450 megawatts. The Maldives currently has systems in place to generate 53 megawatts of renewable energy.
Ibrahim elaborated on the government’s plans: “We have secured funding from various sources to establish an energy production capacity of 80 megawatts. Our objective is to accomplish this significant task within a span of two to three years. Alongside our focus on solar energy, we also plan to conduct a comprehensive survey to explore the potential of harnessing wave energy.” The government also plans to facilitate power companies to ensure robust electricity services.