18 islands to get battery storage under new energy project
The Government of Maldives has awarded a contract to a Chinese consortium to install 38 megawatts (MW) of battery energy storage systems (BESS) across 18 islands, in a
Since then, the country has experienced political upheaval, a period of authoritarian retrenchment, and more recently, a return to democracy and calm under the leadership of President Ibrahim Mohamed Solih. The Maldives would like to rapidly deploy renewable energy, primarily solar, given our abundant sunshine.
Taking advantage of that World Bank guarantee, and the private investments that followed, the Maldives is rolling out solar projects from the capital city, Malé, to far-flung island communities. Short on land, the country is even pioneering the use of floating banks of solar panels in lagoons.
So we continue to burn diesel fuel. In this respect, the Maldives is not an outlier. Many developing countries are saddled with heavy debt, making them shaky places to invest, which increases risk premiums on financing and raises the cost of clean energy projects.
The loans available to us can therefore carry elevated interest rates. This sky-high cost of capital makes most solar projects non-starters. So we continue to burn diesel fuel. In this respect, the Maldives is not an outlier.
PDF version includes complete article with source references. Suitable for printing and offline reading.
Get detailed specifications, case studies, and technical data for our PV container and energy storage solutions.
123 Renewable Energy Street
London EC1A 1BB, United Kingdom
+44 20 7127 4182
Monday - Friday: 8:00 AM - 6:00 PM GMT