The Maldives has signed a USD75.5 million agreement with the Asian Development Bank (ADB) for the Accelerating Sustainable System Development Using Renewable Energy (ASSURE) project. Aligned with President Dr. Mohamed Muizzu’s commitment to achieving 33% renewable energy, ASSURE aims to elevate electricity generation in the country.
Key initiatives include installing 20MW solar power systems across 20 islands, a 44MW solar battery energy storage system for grid stability, and piloting wind and seawater power generation. The project’s initial phase, My Solar Programme, focuses on procuring 3MW solar PV systems, aiming to save 10 million liters of diesel annually and reduce emissions by 26,000 tonnes.
The signing ceremony involved Minister of Finance Dr. Mohamed Shafeeq, ADB’s Deputy Director General Cindy Malvicini, and officials from the Maldivian Government.