Ministry of Environment has signed an agreement with Thailand company, Ensys to install a 5 megawatt Solar PV system in Hulhule-Hulhumale’ link road.
The agreement was signed between both parties on 24th November. On behalf of the Ministry, the Minister of Environment, Dr. Hussain Rasheed Hassan signed while the Executive Director of Ensys Company signed on behalf of the organization.
The installation of solar power system is part of the World Bank financed project by the Ministry of Environment under the ‘Accelerating Sustainable Private Investment in Renewable Energy (ASPIRE) initiative.
Ministry of Environment said that over 27 companies showed interest to take the project and the lowest bid was proposed by Ensys Company. The 5 MW bid recorded a low price of US$ 10.9 cents, which was one of the lowest prices for an island nation. This model holds the promise for replication across other SIDS nations including across Africa and the Caribbean.
Under ASPIRE’s second phase, the installation of solar power in Hulhule-Hulhumale’ will be the largest initiative in Maldives and will support the island nation in moving closer towards its renewable energy targets.
Ensys company also signed a power purchase agreement with the Managing Director of STELCO, Hassan Mughnee.