Ministry of Environment and EnergyRepublic of Maldives

MALDIVES ENERGY SECTOR & SREP IP 4TH DECEMBER 2017, ABUJA , NIGERIA

Maldives Overview

• 26 atolls with 1192 islands

• land area of about 300 km2

• Population of approx. 340

thousand

• 123 Tourist Resorts

• Has a GDP of just over 3 billion USD

as of 2015

• Main economic activity is tourism

& makes up more than 25%

directly2

Maldives Overview

• All energy requirements are met by fossil fuel

• Spent over $236 million on oil imports in 2016

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Maldives Energy Sector

• Achieved universal access of electricity in 2008

• Total Installed Capacity : 363MW

• Inhabited Islands : 214MW• Resorts : 123MW• Industrial Islands: 20MW• Renewable Energy: 6MW

• Utility Companies : STELCO, FENAKA, MWSC

• Total of 186 powerhouses in inhabited islands.

• Total primary energy consumption: 627 GWh/year

• Total annual CO2 emissions: 473,784 tCO2

• Cost of Electricity 0.3 – 0.7 USD/kWh

• 537,060 metric ton of fuel was imported in 2016

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• Scaling up renewable energy investment plan• ASPIRE – focused on private sector investments• POISED – focused on public sector investments

• Net metering regulation• Maldives Energy policy and strategy 2016• Establish concessional financing for RE (FRESA Fund, BML Green Fund, RED

Fund)• Remove subsidy on electricity• Within last 3 years, 6 MW of solar PV have been installed in the country

through various models.

558 kWp solar PV in 3 public buildings in Gdh. Thinadhoo

740 kWp Solar PV installation at Male’

960 kWp Solar PV installation at Finolhu Villas Resort

TRANSFORMATION OF ENERGY SECTOR

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SREP Investment Plan

• Maldives SREP (Scaling Up Renewable Energy Program) Investment Plan, acritical plan to meet the policy priorities of the Government and SDGs

• Maldives SREP IP Objectives

• Transformation of electricity sector

• Large scale RE development

• Increase national energy security

• Creating a strong RE industry

• Attract foreign RE investors

• Emerge as model for other SIDS

• ASPIRE (Accelerating Sustainable Private Investments in RenewableEnergy)

• POISED (Preparing Outer Islands for Sustainable Energy Development)

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ASPIRE

Contract awarded to install 1.5MW solar PV in Hulhumale island – inAugust 2015

• All necessary agreements signed (Power Purchase Agreement, Roof LeaseAgreement)

• Physical implementation start in Jan 2018 and expected to complete bySep 2018

• Next phase contract preparation on going

• 2.5MW roof top solar outer islands expected to float tender in Jan 2018.

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Design Objectives for POISED

• Optimum level of %RE penetration

• Minimize diesel fuel consumption

• Financial and economic viability

• Reduce impact on government budget for subsidies

• Minimize CO2 emissions

• Minimize local environmental impact

• Optimize land-use

• Awareness of context, resources

• Flexibility

8

POISED Project Financing

POISED Financing

ADB Financing (Grant)

ADF

SREP

JFJCM (Additional Financing)

Co- Financing (Loan)

EIB

$ 38 Million (Jan 2015)

$ 12 Million (Jan 2015)

$ 50 Million (March 2016)

$ 5 Million (Aug 2015)

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POISED Phase 1

5 islands

• Contract Awards – October 2015

• Grid connected in 2017

Other contracts

• Technical consultants recruited in December 2015

• Financial and IT consultants recruited in March2016

10

Addu City (1.6MW PV)

11

B.Goidhoo (200kW & 223 kwh of storage)

12

Lh.Kurendhoo (100kW & 110 kwh of storage)

13

Th.Buruni (100kW & 111.5 kwh of storage)

14

GA.Villingili (300kW & 223 kwh of storage)

15

Addu

Business as Usual (no PV, only Diesel) PV + Storage

Average figures Average figures

29071 liters/day 1278 liters/day (5% fuel savings )

0.3 liters/kWh 0.28 liters/kWh

MVR 3.7M/yr16

Th.Buruni

Business as Usual (no PV, only Diesel) PV + Storage

Average figures Average figures

485 liters/day 105 liters/day (22% fuel savings)

0.4 liters/kWh 0.3 liters/kWh

MVR 306k/yr17

Lh. Kurendhoo

Business as Usual (no PV, only Diesel) PV + Storage

Average figures Average figures

47012 liters/month 5944 liters/month (12% fuel savings)

MVR 570k/yr

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POISED Phase 2

Greater Male

• Replace smaller inefficient sets with 8 MW genset –Awarded in April 2016

• Project completed and commissioned in July 2017

Outer Islands

• 2 atolls in the North

• Haa Dhaalu Atoll (13 islands) tender awarded on 30 April 2017

(Detail design submitted to PMU)

• Haa Alif Atoll (14 islands) tender awarded on 24 May 2017

(Detail design submitted, expected to mobilize in Jan 2018)

Haa AlifuHaa Dhaalu

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POISED Phase 3

• Shaviyani & Noonu Atoll – Contract signing on 5 Dec 2017

• Kaafu, Alifu Alifu, Alifu Dhaalu, Vaavu Atoll

and Hulhumeedhoo – Feasibility completed

and submitted to European Investment Bank

for review and approval

Sh and N atolls

K, AA, Adh, V

Hulhumeedhoo

20

POISED Phase 4

• Meemu, Faafu & Dhaalu Atoll - Site survey completed and feasibility preparation ongoing.

M, F, Dh

21

JFJCM Project

K, AA, Adh, V

• Advanced energy storage in Addu

• 1 MW additional solar PV under net-meetering

• Consulting support

• Design ongoing

• Procurement to start in 2018

22

Implementation Status

160

131

99

58Implementation

Feasibility Study

Technical Survey

Total

5Completed

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