The World Bank approves a $107.4 million project to help the Maldives accelerate its transition to renewable energy and support sustainable recovery.
The Accelerating Renewable Energy Integration and Sustainable Energy (ARISE) project build on the efforts of the existing World Bank-funded Accelerating Sustainable Private Investments in Renewable Energy (ASPIRE) initiative to bring in private investments for increasing renewable energy capacity in the Maldives. Both the projects are designed to help address the climate challenges and vulnerabilities that the Maldives is exposed to as an island nation. In moving to renewable sources of energy generation, the Maldives will also be shifting away from fossil fuels and in turn reducing their carbon footprint significantly.
The project aims to expand solar power generation in locations in and out of the Greater Male' region and strengthen the capacity of the power system for the integration of electricity generated from solar power.
The Accelerating Renewable Energy Integration and Sustainable Energy will be implemented by the Ministry of Environment with close coordination with STELCO and FENAKA, the main utility companies in the Maldives.
The Accelerating Renewable Energy Integration and Sustainable Energy (ARISE) project build on the efforts of the existing World Bank-funded Accelerating Sustainable Private Investments in Renewable Energy (ASPIRE) initiative to bring in private investments for increasing renewable energy capacity in the Maldives. Both the projects are designed to help address the climate challenges and vulnerabilities that the Maldives is exposed to as an island nation. In moving to renewable sources of energy generation, the Maldives will also be shifting away from fossil fuels and in turn reducing their carbon footprint significantly.
The project aims to expand solar power generation in locations in and out of the Greater Male' region and strengthen the capacity of the power system for the integration of electricity generated from solar power.
The Accelerating Renewable Energy Integration and Sustainable Energy will be implemented by the Ministry of Environment with close coordination with STELCO and FENAKA, the main utility companies in the Maldives.
