Energy / Maldives
Low-carbon economy a top government agenda
As part of a greater goal to become a low-carbon economy, the Maldives is ramping up its solar power capacity. Given that the nation has no native fuel source, the benefits for generating energy would be manifold.“The Maldives’ installed solar power capacity on its grid has doubled to 4MW, and we have already contracted another four,” says Minister Thoriq Ibrahim of the Ministry of Environment and Energy.
“We spend 20 to 23 per cent of our GDP to import oil. Clearly, we need to offset this, which is why low-carbon power development has become a main focus of President Yameen’s government.” The government has also implemented legislation to drive clean energy growth.
“Through the Net Metering Regulation, both individuals and private companies can receive deductions on their energy bills by installing solar panels on their buildings,” says Minister Ibrahim. “Whatever excess they produce can be sold back to the grid, and the deduction can be issued.”
“Preserving the environment has always been at the top of our agenda. By this virtue, every project that undergoes development must pass a rigorous environmental impact assessment. No matter the project, all developers must ensure that environmental sustainability comes first.” Thoriq Ibrahim, Minister of Environment and Energy
