The Government of Maldives, in collaboration with the World Bank, is set to organize the highly anticipated Renewable Energy Investor Conference 2023 from 7th to 8th June at Bandos Island Resort, Maldives. This conference aims to highlight the country’s commitment to combat climate change while presenting lucrative investment prospects in solar PV projects.
As part of its ambitious agenda to secure a resilient future, Maldives made a bold move to restructure its energy sector. During the United Nations Climate Ambition Summit in December 2020, His Excellency Ibrahim Mohamed Solih, the President of Maldives, announced the nation’s ambitious goal of achieving net-zero emissions by 2030. This objective relies on the support and assistance of the international community.
In line with the President’s vision, the Maldivian government has proactively driven initiatives to establish climate-resilient infrastructure and accelerate the transition to renewable energy sources. Within a short span of time, the country has witnessed remarkable growth, with 20 MW of solar PV installed capacity. Furthermore, there is an ongoing pipeline of projects totalling over 45 MW. A testament to this progress is the impressive reduction in solar tariff from 21 US cents to 9.8 US cents.
The World Bank has played a pivotal role in supporting large independent power producer (IPP) projects in Maldives. Through initiatives like the Accelerating Sustainable Investment in Renewable Energy (ASPIRE) and Accelerating Renewable Integration and Sustainable Energy (ARISE) Projects, the World Bank has provided innovative risk mitigation instruments, payment security, and financing mechanisms.
Building upon the success of the Maldives Energy Investor Conference held in June 2021, which attracted more than 200 participants from over 29 countries, the Government of Maldives, in collaboration with the World Bank, is now organizing the Renewable Energy Investor Conference 2023. The conference will feature a hybrid format, allowing for the physical attendance of senior government representatives, investors, developers, and other stakeholders.
Scheduled for 7th and 8th June, the Renewable Energy Investor Conference aims to share insights and experiences from existing projects while presenting the upcoming pipeline of solar PV projects in the Maldives. Attendees can expect presentations on the commercial and technical aspects of these projects, interactive Q&A sessions, and discussions on commercial structuring. Stakeholders will also have the opportunity to provide valuable feedback that may influence future projects.
Distinguished speakers, including the Maldives Minister of Environment, Climate Change and Technology Ms Aminath Shauna, the Minister of Finance Mr Ibrahim Ameer, the Minister of Economic Development Mr Fayyaz Ismail, and other senior leaders, will address the conference attendees. The event will facilitate interactive sessions with investors and developers, fostering valuable connections and collaborations.
In addition to the conference, participants will have the opportunity to visit a solar PV project site in Addu City on 10th June 2023, further deepening their understanding of the renewable energy landscape in the Maldives.
Registration is now open for those interested in attending the Renewable Energy Investor Conference 2023. Join the event to witness Maldives’ remarkable growth story in the climate future and explore emerging investment opportunities in the energy transition space.
Feature Image: Kudadoo Maldives
