USD138 million renewable energy project to commence in MaldivesOctober 14, 2012, 10:25 pm
Oct 14, 2012: Maldives Energy Authority today announced that a USD138 million renewable energy project that would generate 26megawatt electricity is set to be initiated.
State Minister for Energy Abdul Matheen revealed that under the project which has been designed to be completed within five years, 16megawatt of electricity will be provided to the Male region through renewable energy.
The two newly installed generators at State Electric Company Limited (STELCO) currently generate the same amount of electricity for Male region.
Energy Authority further detailed that Sustainable Renewable Energy Project (SREP) is set to be conducted in 50 islands funded by the Climate Investment Fund, World Bank, Asian Development Bank, German and Japanese governments.
"We are making preparations to commence the project during next month. Under the project, ten islands would run solely on renewable energy. In addition, 30 percent of electricity in 30 islands will be converted to renewable energy," Matheen detailed.
"Once electricity is generated from this project, it will significantly reduce the costs on utilities and bring down the cost of electricity."
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