Work has officially begun on the Maldives' landmark 100 MW "Project Solar City," a monumental floating-solar initiative that marks a significant leap forward in the nation's renewable energy goals and serves as the core infrastructure for the country's first Special Economic Zone (SEZ).
The Ministry of Economic Development and Trade confirmed that the project has transitioned from the planning to the execution stage, with on-site work, including material delivery, shore protection, and land dredging, now underway after receiving necessary practical work permissions.
The ambitious project, with a total investment valued at USD 187 million including more than USD 100 million dedicated to the renewable energy components, aims to install a vast floating solar platform in a lagoon in the Male' Atoll. This platform will generate 100 MW of electricity from sunlight and supply it directly to the national grid via an undersea cable connection.
The contract to implement this facility was awarded to Abraxas Power Corporation of Canada, which received permission for the first phase in April of last year. Sangro Power Supply Co. is serving as the project's technical partner.
The Ministry has set a target completion date for the entire project by 2027.
"Project Solar City" is a critical component of the government's broader national energy strategy. The government aims to convert 33 percent of the country's energy consumption to renewable sources by the end of the specified timeline. Officials estimate this transition to sustainable power will yield substantial financial benefits, saving the nation an estimated USD 42 million in annual fuel costs.