Renewable Energy, Waste and Environment
Renewable Energy
Altering the dependence on imported fuel and investing in renewable energy is the key priority of the Maldives government to improve the energy security. The objective is to achieve a 70% peak load energy requirement from renewable energy sources and decrease reliance on oil.
Energy demands have grown exponentially over the past three to four decades resulting from the unprecedented economic growth in key sectors of the economy. The demand for energy generation is expected to grow annually by 8.5 percent. The Maldives’ government welcomes investments in renewable energy under Independent Power Producer (IPP) licenses and the sale of power to utility companies under Power Purchase Agreements. Land-based, roof-mounted, or floating Solar PV and other viable renewable energy technologies may be proposed.
Potential investors can also partner with private sector entities, including resort operators to transfer to renewable and smart energy solutions. There is considerable appetite for transitioning into renewable energy solutions in the Maldives, with installations growing at double-digit rates over the last five years, recording an average annual growth of 45-55%.
Waste Management
The Maldives aims to establish regional-level waste management systems that segregate waste and reduce waste volume through volume reduction equipment or resource recovery.
Investment and commercial opportunities are open to supply innovative, environment-friendly, and low-cost waste management solutions to match the requirements.Â
The current wastewater treatment technologies used in the Maldives are very costly. Investment opportunities exist in wastewater treatment technologies that provide environment-friendly and cost-effective solutions.
Environment
The biosphere reserves and protected areas of the Maldives have the most beautiful and unique features. They have the potential to enhance socio-economic development through ecotourism, research-based tourism, and expeditions supporting sustainable development.
Maldives is one of the lowest-lying island nations in the world. Consequently, many islands face some form of coastal erosion because of human-induced or climate change-related factors. The current infrastructure solutions using rock boulders/sea walls are costly and ruin the aesthetics of the beautiful islands.
Investment opportunities are open in coastal protection technologies with more environment-friendly and sustainable soft-hard engineering solutions.
