A Brighter Future for Maldives Powered by Renewables: Road Map for the Energy Sector 2020–2030

By Asian Development Bank

Maldives has no proven fossil fuel reserves, but it has abundant renewable energy sources such as solar, wind, and ocean (tidal, wave, and ocean thermal), and has the potential to produce green hydrogen fuel using renewable energy. The coronavirus pandemic has impaired Maldives’ economy, severely affecting its tourism industry, which is one the country’s main economic drivers. The country’s recovery will largely depend on the rapid transformation and diversification of its economic activities. Renewable energy offers a promising alternative to fossil fuels as the country embarks on a transformation challenge. This Road Map serves as a guide for Maldives’ energy transition—from being powered by costly and polluting fossil fuels to being powered by affordable and efficient renewable and cleaner energy sources.

• Language: English
• Publisher: Asian Development Bank
• Release date: Nov 1, 2020
• ISBN: 9789292625146

Book preview

A BRIGHTER FUTURE FOR MALDIVES POWERED BY RENEWABLES

ROAD MAP FOR THE ENERGY SECTOR 2020–2030

NOVEMBER 2020

Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO)

© 2020 Asian Development Bank

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Some rights reserved. Published in 2020.

ISBN 978-92-9262-513-9 (print); 978-92-9262-514-6 (electronic); 978-92-9262-515-3 (ebook)

Publication Stock No. TCS200355-2

DOI: http://dx.doi.org/10.22617/TCS200355-2

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Cover design by Mike Cortes.

CONTENTS

TABLES AND FIGURES

FOREWORD BY HIS EXCELLENCY HUSSAIN RASHEED HASSAN, MINISTER OF ENVIRONMENT

Maldives’ energy sector is firmly transitioning to an environmentally friendly sector by adopting renewable energy. Investing in renewable energy is a key priority of the Government of Maldives to minimize our heavy dependence on imported fossil fuel and to improve energy security of the country, thereby building up the country’s economic resilience. Investments in renewable energy and energy efficiency give us the opportunity to lower our greenhouse gas emissions and electricity production costs and reduce the imports of diesel fuel, consequently reducing the burden on government finances.

Maldives needs to integrate renewable energy into power systems in all inhabited islands and resort islands, and to decarbonize the transport sector and industrial activities at a faster pace. The success of flagship projects such as Preparing Outer Islands for Sustainable Energy Development (POISED) project and the efforts of our utility companies have brought us closer to achieving our vision for the energy sector: the provision of sufficient, reliable, sustainable, secure and affordable energy to citizens and businesses. The solar-photovoltaic-battery diesel hybrid energy systems introduced by the