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Funding Secured for Solar,
Storage Microgrid in Maldives
The $45M that the European
Investment Bank (EIB) is provid-
ing to reduce diesel usage and
the cost of electricity generation,
enhance the use of renew-
ables, provide affordable power
to unserved and under-served
businesses and residences, and
reduce CO2 emissions
in the Maldives is now
available.
The EIB signed off
on the loan in March.
The project will finance
individual microgrid
systems consisting of solar pho-
tovoltaic panels, together with
efficient modern diesel genera-
tors, and integrated lithium accu-
mulators in the Maldives’ outer
islands. It is expected to cost a
total of $175M.
The project supports the Government of Maldives’ goal of
becoming carbon neutral by 2020
and the EIB said that it is in line
with the EU priority objectives
of promoting renewable energy, tackling climate change and
reducing poverty. ￮
Maldivian capital
from above. Credit:
Shutterstock.
