A Brighter Future for Maldives Powered by Renewables
SQ Consult has prepared for the Government of Maldives and the Asian Development Bank (ADB) the Road Map for the energy sector 2020–2030. This publication serves as a guide for Maldives’ energy transition—from being powered by costly and polluting fossil fuels to being sustained by clean and efficient renewable energy sources.
Maldives has no proven fossil fuel reserves, but it has abundant renewable energy sources such as solar, wind, and ocean (tidal, wave, and ocean thermal)—with the potential to produce green hydrogen fuel. The coronavirus disease (COVID-19) pandemic has impaired the economy and severely affected the tourism industry, which is one the main economic drivers of Maldives. The country’s recovery largely depends on the rapid transformation and diversification of its economic activities. Renewable energy offers a promising alternative as Maldives embarks on a transformation challenge.
The work done for developing this Road Map has also informed the recently approved ADB’s 5-year country partnership strategy (CPS) for Maldives covering 2020–2024. The new ADB’s partnership strategy will support Maldives to take on a more resilient, sustainable, and inclusive path for development, and emerge stronger from the coronavirus disease (COVID-19) pandemic.