Minister of Environment Dr. Hussain Rasheed Hassan has stated the roadmap for the energy sector of the Maldives is nearing completion. The minister made the remarks while delivering the opening statement at the 3rd Global Re-Invest Forum’s session on the Maldives.
Speaking at the forum, Environment Minister Dr. Hussain Rasheed Hassan said the Maldives has made significant strides in utilising renewable energy to generate power. In this regard, the minister said the Maldives Energy Roadmap is nearing completion, noting the plans and regulations under the roadmap have already been formulated. He added important energy milestones under the Strategic Action Plan (SAP) of the government have also been achieved, including the Energy Utility Regulatory Authority Bill and the amendments to the Net Metering Regulation.
Speaking on projects which are currently ongoing, the environment minister highlighted a foreign company has been contracted to establish a 5 mega-watt Solar PV system in the link road connecting Hulhule’ and Hulhumale’. He said the tariff rates for Solar PV have also been brought down from 25 cents to 10 cents, with the new project.
The session on Maldives at the Global Re-Invest Forum was attended by Minister of New and Renewable Energy of India Rajkumar Singh and Country Director of World Bank for the Maldives Faris Hadad-Zervos, as well as senior officials of the International Renewable Energy Agency (IRENA), International Solar Alliance and World Bank.