Maldives’ Energy Roadmap is Being Reviewed

The Ministry of Climate Change, Environment and Energy, with the assistance of the Asian Development Bank (ADB), launched a review of the energy roadmap as part of its policy to increase clean energy use in Maldives yesterday.

At the launch ceremony, Minister of Climate Change Thoriq Ibrahim said the revised energy roadmap will bring about significant changes in Maldives’ energy sector and help expand economic activities in the sector.

Minister Thoriq said ADB is doing a commendable job in providing loans and grants to Maldives from various organizations and financial institutions.

ADB mobilized a total of $75.5 million in sovereign investment, of which $57 million was grant. The remaining $18.5 million was raised from soft loans.

At the ceremony, ADB launched the Accelerating Sustainable System Development Using Renewable Energy – ASSURE Project for the energy sector.

President Dr. Mohamed Muizzu has called for reducing oil dependence and increasing the use of renewable energy from 4% to 33%. The workshop will review the Energy Roadmap first published in 2020 with the assistance of ADB to promote sustainable renewable energy in line with this commitment.