The Maldives: imperative that it moves to renewable energy

Maldives and its renewable energy sector The Frontier Post, Muhammad Omar Iftikhar, 14 July 13 The island of the Maldives is facing an energy crisis, which if left unimpeded, can jeopardize the proper functioning of the island. Although the island has enough resources to generate alternate energy, there seems to be lack of private sector funding, a dearth of international investment, and the Maldivian government’s inefficiency to promote the sector, which is only serving to accentuate the energy crisis.

The Maldives is focusing on generating renewable energy and becoming less dependent on fossil fuel and carbon fuel because of the Maldivian government’s plan to become a carbon neutral country by 2020. If the country realizes its carbon neutral dream, then it will become the second South Asian country after Bhutan to imply carbon free strategies. Bhutan is on the verge of becoming an organic country by banning the use of pesticides and herbicides and relying on its animals and farm waste for fertilizers. With the same thought in mind to use natural resources, the Maldives is moving forward with a single-minded approach to become a carbon free country. ……

By promoting its renewable energy sector, the Maldives plans to attract private sector investment, which seems to be the only way to fund the sector. However, internal and external factors are thwarting Maldives’ ambitions to overcome its energy crisis. The political crisis is the basic reason why international investors are doubtful over investing in the country…….

The environment ministry of the Maldives is aiming to limit its reliance on fossil fuels because of two reasons. First, fossil fuels cost more and by becoming less dependent on fossil fuel, the Maldives will save millions, which it can invest in its renewable energy sector. Secondly, generating energy through fossil fuels adversely affects the environment as the carbon gases destroy the ozone layer. Moreover, the Maldives cannot pollute its environment as it is a global tourist destination and with a contaminated setting, the country can lose its serenity.
In order to develop its renewable energy sector, the Maldives is searching for international investment and it has received a positive response from the World Bank and the Asian Development Bank as both financial institutions have assured to provide the Maldives with the needed monetary assistance. They have already funded the $138 million renewable energy project in the Maldives, which began in October 2012. According to the plan, the project will produce nearly 26MW of energy and will benefit fifty islands. How successful will this project be is yet to be seen. …..http://www.thefrontierpost.com/article/26861/

July 15, 2013 - Posted by Christina Macpherson | OCEANIA, renewable

1 Comment »

So sad to hear about that! Hopefully Maldives will find a way to handle the situation.

Comment by TravelBench | June 14, 2016 | Reply

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