The Ministry of Climate Change, Environment and Energy is inviting investors to establish a 10-megawatt floating solar photovoltaic system in the southernmost Addu City.
The Ministry announced yesterday its plan to seek investors for the construction of 2 MW floating solar systems at the Maradhoo Jetty and Hulhumeedhoo Central Jetty areas, as well as an 8 MW system at the Hithadhoo port. The chosen contractor will be responsible for financing the installation and managing ongoing maintenance costs for a period of 20 years.
The deadline for bid submissions is set for 29 October 2024. The Ministry aims to select a contractor in the first quarter of 2025 following a competitive bidding process, which will assess both the technical and financial capabilities of the bidders, as well as the lowest electricity sale price to the government.
The Ministry anticipates that the solar systems will be operational by the second quarter of 2026. The project is expected to save 4.43 million litres of diesel annually, amounting to annual savings of approximately MVR 35.5 million.
This initiative, known as the Accelerating Renewable Energy Integration and Sustainable Energy (ARISE) project, is a collaboration between the World Bank and the Maldivian government. The project aims to increase solar PV capacity, deploy energy storage batteries, and modernise electric grids across the Maldives. It includes plans to install a total of 36 MW of solar PV systems and 40 MWh of batteries on various islands, and upgrade the electric grids on 19 islands.
In addition to the floating solar project, the World Bank’s ASPIRE project is also working on establishing a 3 MW solar system in Addu City. Combined, these projects are expected to generate 13 MW of solar power, resulting in annual savings of over MVR 46 million.
