The solar panels installed on the rooftops of households in Hulhumale’ have begun generating electricity.
The installation of the solar power system on households and the Hulhule’-Hulhumale’ link road is financed by the World Bank under the Accelerating Sustainable Private Investment in Renewable Energy (ASPIRE) initiative. As such, a 600kW solar power system was installed in households in Hulhumale’ and connected to the State Electric Company (STELCO) grid.
Meanwhile, the installation of a 5MW solar power system on the Hulhule’-Hulhumale’ link road is ongoing. The project is the largest initiative in the Maldives under the second phase of ASPIRE and is expected to significantly decrease the reliance on oil and allow the government to save USD1.3 million and generate 7.3 million units of electricity each year. The project is expected to be completed in the second quarter.
The government aims to reduce spending on energy generation, which currently accounts for about 10% of the Gross Domestic Product (GDP), and allocate the funds to other sectors. Transitioning to renewable energy is a priority for the government to safeguard the economy from sudden changes, given the country’s dependence on fuel for energy generation and the volatility of the global fuel market.