$138 Million Maldives Renewable Energy Project Backed by World Bank Launched

The Energy Authority of Maldives has announced the inception of $138 million renewable energy project which would generate 26 MW of electricity in Maldives.

Abdul Matheen, State Minister for Energy revealed that the project is expected to be completed within five years. Out of a total 26 MW of generated electricity, 16 MW will be supplied to the Male region, which constitutes 30% of the total population of the country.


This project is a part of a renewable energy investment plan of the government which has been developed under the Sustainable Renewable Energy Project (SREP) of the Climate Investment Fund. The project would be funded by the World Bank, Asian Development Bank, and German and Japanese Banks.

According to the Energy Authority of the Maldives, the project will be extended to 50 islands to promote the use of renewable energy.


“We are making preparations to commence the project during next month. Under the project, ten islands would run solely on renewable energy. In addition, 30 percent of electricity in 30 islands will be converted to renewable energy,” Matheen detailed. More


 

 

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