Fenaka Corporation Limited has revealed that it plans to install 20MW of solar panels this year.
Fenaka is undertaking several projects across the country to increase its solar power capacity, as part of the efforts to reach the government's target of achieving net-zero emissions by 2030. As such, the company aims to convert 70% of all power generated across the country into solar power.
One of the main projects undertaken by Fenaka as part of the renewable energy transition is the Home Solar programme, in which solar panels are installed in residential households. The programme allows customers to reduce their monthly electricity bill by up to 97%, as a USD130 electricity bill of a household would drop to up to USD4. A home solar system can also be used for 20-25 years.
Speaking to PSM News, Managing Director Ahmed Saeed said the Home Solar programme is highly popular and that Fenaka has received requests to install solar panels on households totaling 2MW. He said that Fenaka is currently in the process of installing 1MW of solar panels and is currently generating 14MW from solar panels. He added that Fenaka is playing a large role in making the Maldives a carbon-neutral country.