The government is working to increase the use of renewable energy in the Maldives by adding 19MW of solar photovoltaic (PV) capacity, Minister of State for Tourism and Environment Mohamed Faiz has announced. The State Minister made the statement while inaugurating a meeting titled Conversation on Clean Energy and Climate Change Mitigation.
The meeting was organised by Villa College and the United Nations Development Programme (UNDP) at the initiative of the British High Commission.
In his remarks, State Minister Faiz said Maldives is one of the countries most affected by climate change. He expressed concern over the damage to coral reefs due to rising sea temperatures, as well as the increasing frequency of extreme weather events.
The State Minister further stated that significant efforts are being undertaken to safeguard the country against climate change impacts. He noted that an updated Nationally Determined Contributions (NDC) is currently being developed so that all sectors can work towards climate change-related measures.
The State Minister further stated that the Maldives spends over $150 million annually on fossil fuel imports and electricity subsidies. To reduce these costs, efforts are being made to generate electricity from renewable energy sources on the advice of the President, he stated.
"The total installed capacity of renewable energy is currently 53 MW. We added another 17 MW, and we are now working on adding another 19 MW of solar PV. We are also working with private companies to install 115 MW of floating solar,” the State Minister said.
The meeting will also explore trade and investment opportunities in the Maldives, blue economy initiatives and renewable energy opportunities. The meeting will also discuss legal frameworks for business operations and investment incentives.