Hydropower

Maldive Islands Considers $8 Million Power Project

The Asian Development Bank will lend US$8 million to establish renewable energy generation in the Maldive islands.

MANILA, Philippines, PH, 2001-07-31 [SolarAccess.com] The Asian Development Bank will lend US$8 million to establish renewable energy generation in the Maldive islands. The loan will provide a sustainable, expanded and upgraded power supply system in the outer islands of the sunny Indian Ocean country. With a population growing at 3 percent per year, the Maldives has a quarter of a million people. Eighty percent of the islands are less than 1 metre above sea level. The Maldives have no oil or gas reserves, and there is deforestation due to consumption of wood for cooking. The main industry is tourism. In 1987, high tides inundated much of the country, prompting interest in global climate change issues. Installed generating capacity is 25 MW, all from oil. The ADB loan to electrify the outer islands is also intended to promote equitable and regionally balanced economic growth and ease the population pressures. The executing agency is the Ministry of Finance & Treasury, and procurement of goods and services financed by the project will be carried out under ADB guidelines