President Ibrahim Mohamed Solih has revealed that the administration’s initiative to expand renewable energy power generation will save around USD59 million every year. He made the remark while speaking at the function to commemorate World Environment Day 2023 in Ukulhas, Alifu Alifu Atoll.
At the function, President Solih highlighted the administration's objective to transition the Maldives into a nation that prioritises environmentally friendly energy generation by shifting towards renewable energy sources and reducing its reliance on fossil fuels. He said the administration is focused on advancing renewable energy sources and prioritising environmentally friendly energy generation. He also acknowledged the significant progress made in the administration's pursuit of attaining net zero carbon emissions by 2023.
Additionally, President Solih said the administration has successfully expanded solar panel electricity generation by 36MW. He highlighted that these initiatives have resulted in substantial savings of 17 million litres of fossil fuel, equivalent to USD18 million. He added that the administration is implementing solar power system installation projects in 113 islands throughout the country and their completion will result in saving USD59 million from the state budget every year.
Furthermore, President Solih said the home solar programme to power households using solar panels has significantly reduced electricity bills of 300 households. He added that projects to add solar power systems in 155 mosques will commence this year.