- Maldives has secured ADB’s transaction advisory services for its outer island solar PPP projects
- Under this, ADB will help Maldives develop, structure and launch an international tender to set up 20 MW to 30 MW solar capacity
- It will be located on land, rooftops and nearshore lagoons with 1 MW to 2 MW of PV in 20 to 25 outer islands of the country
The Asian Development Bank (ADB) has entered transaction advisory services (TAS) with the Ministry of Environment, Climate Change and Technology in Maldives to help the country tender a combined capacity of 20 MW to 30 MW for outer islands solar public private partnership (PPP) projects.
Under the agreement signed, the plan is to develop, structure and launch an international tender to set up this capacity on land, rooftops and nearshore lagoons with 1 MW to 2 MW of PV in 20 to 25 outer islands of the country.
The project is expected to lower the country’s diesel import bill and lower its overall energy tariff. According to the ministry, ADB’s support will mobilize private sector investment in the country’s solar PV sector and transform its existing diesel-based power generation systems into hybrid renewable energy systems in the inhabited islands.
“The PPP project will complement ADB’s ongoing sovereign financing interventions for grid and battery storage related infrastructure and government’s effort in achieving net-zero carbon emissions by 2030,” stated the ministry.
ADB has been supporting hybrid energy systems in the Maldives under Preparing Outer Islands for Sustainable Energy Development (POISED) project through which the idea is to install solar-battery-diesel hybrid systems on 160 inhabited islands (see Additional ADB Funds For Maldives Renewable Energy Project).
