The Maldives as chair of the Alliance of Small Island States (AOSIS) has announced an initiative to assist Small Island Developing States (SIDS) in achieving their renewable energy goals.
The creation of Initiative for Renewable Island Energy (IRIE) was announced during the high-level session for the Global Climate Action Agenda at COP22. Its purpose will be to support SIDS in their implementation of the renewable energy and energy efficiency components of their nationally determined contributions (NDCs) to implement the Paris Agreement. IRIE is setting an initial goal of mobilising at least US$1 million in grant and concessionary financing by 2020 for concrete implementation on the ground.
Environment Minister Thoriq Ibrahim, the current Chair of AOSIS, described some of the steps the Maldives is taking to scale up the deployment of renewable energy. According to the minister, the country has made renewable energy imports 100% duty-free, and has instituted a net metering system. He emphasised that the Maldives will not rely only on solar, and that it is developing Ocean Thermal Energy Conversion (OTEC) opportunities as well.