Ministry of Climate Change, Environment and Energy Thoriq Ibrahim has launched the Magey Solar programme to provide solar PV systems to households.
Speaking at the launching ceremony, Minister Ibrahim said that 13% of the Maldives GDP is spent on fuel, which is USD800 million a year that could be used for development projects. He detailed that the Maldives is not an energy producing country and needs to import energy at an expensive rate. He also noted that the price of fuel is increasing in the global market.
The Magey Solar programme aims to reduce the reliance on fuel and decrease the cost of electricity. The programme will be implemented by the government in collaboration with utility companies and international organisations. In the first phase of the programme, solar PV systems will be provided to households on an installment basis through Fenaka Corporation and State Electric Company (STELCO) under a net metering billing mechanism.
The government has invited tenders to supply a total of 3MW of solar PV systems to be provided to households. The environment ministry has expressed confidence that the solar PV systems will bring long-term benefits to households.