Maldives Eyes India for Renewable Energy Future

The Maldives is placing India at the core of its renewable energy aspirations, seeking enhanced regional partnerships to curb fossil fuel reliance and boost climate resilience. This was emphasized by Maldives' Minister of State for Tourism and Environment, Muaviyath Mohamed, at the 6th International Energy Conference in New Delhi.

The Minister highlighted the island nation's significant challenges, noting that fossil fuel imports account for 13.5% of GDP, while fuel subsidies exceed USD 150 million annually. He underscored the urgency for transition due to heavy dependency on imported fuel and high infrastructure expenses.

Under President Dr. Mohamed Muizzu's leadership, the Maldives aims to generate 33% of its electricity from renewable sources by 2028. The country has already doubled its renewable capacity from 53 MW to over 100 MW and plans to add 250 MW more. India plays a key role in this transition, with Indian companies showing keen interest in the renewable sector.

The Minister encouraged more Indian firms to invest in the Maldivian market and welcomed existing contributors to bolster the renewable landscape. He emphasized that partnerships with India, backed by the World Bank, Asian Development Bank, and bilateral partners, are crucial for achieving the Maldives' ambitious goals by 2028.

This collaboration serves India's aim to emerge as a global clean energy leader and strengthens regional connectivity, while the Maldives envisions a future with reduced reliance on volatile fuel imports and heightened economic sustainability.

(With inputs from agencies.)