How is the World Bank helping the Maldives achieve net-zero?

The World Bank has been helping the Maldives transition to clean energy and achieve its 2030 net-zero target. The recent signing of an 11-megawatt solar project will see private energy investments deployed in six population centers across the archipelago.

Will the Maldives achieve 70 percent renewable power by 2030?

“ The proactiveness of the government, combined with development financing from organisations such as the World Bank will help the Maldives achieve the target of 70 percent power from renewable sources by 2030.

Will Maldives reach net-zero emissions by 2030?

Maldives has a target to reach net-zero emissions by the year 2030 with international support. World Bank has been contributing to a clean energy transition in the Maldives. The Maldives has always been the Land of Sun, Sea and Sand. Each year, more than a million tourists explore the sunny beaches and blue ocean.

Can aspire help reduce fossil fuel subsidies in the Maldives?

" ASPIRE showcases that there is an opportunity to reduce fossil fuel subsidies, reduce the fiscal deficit burden on the government, and present a clear business case for renewable energy projects in the Maldives," said Simon Stolp, Practice Manager for Energy in South Asia at the World Bank.

Should the Maldives invest in renewables?

While the required upfront investments are high, investing in renewables can help the Maldives to lower its cost of electricity service, fuel import bill and subsidy expenditure, reduce carbon emissions, and create new jobs.

Is biomass a source of electricity in Maldives?

Traditional biomass – the burning of charcoal, crop waste, and other organic matter – is not included. This can be an important source in lower-income settings. Maldives: How much of the country’s electricity comes from nuclear power? Nuclear power – alongside renewables – is a low-carbon source of electricity.