MALDIVES ENERGY SECTOR & SREP IP 4 TH DECEMBER 2017, ABUJA, NIGERIA. Ministry of Environment and Energy Republic of Maldives

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1 MALDIVES ENERGY SECTOR & SREP IP 4 TH DECEMBER 2017, ABUJA, NIGERIA Ministry of Environment and Energy Republic of Maldives

2 Maldives Overview 26 atolls with 1192 islands land area of about 300 km 2 Population of approx. 340 thousand 123 Tourist Resorts Has a GDP of just over 3 billion USD as of 2015 Main economic activity is tourism & makes up more than 25% directly 2

3 Maldives Overview All energy requirements are met by fossil fuel Spent over $236 million on oil imports in

4 Maldives Energy Sector Achieved universal access of electricity in 2008 Total Installed Capacity : 363MW Inhabited Islands : 214MW Resorts : 123MW Industrial Islands: 20MW Renewable Energy: 6MW Utility Companies : STELCO, FENAKA, MWSC Total of 186 powerhouses in inhabited islands. Total primary energy consumption: 627 GWh/year Total annual CO 2 emissions: 473,784 tco 2 Cost of Electricity USD/kWh 537,060 metric ton of fuel was imported in

5 TRANSFORMATION OF ENERGY SECTOR Scaling up renewable energy investment plan ASPIRE focused on private sector investments POISED focused on public sector investments Net metering regulation Maldives Energy policy and strategy 2016 Establish concessional financing for RE (FRESA Fund, BML Green Fund, RED Fund) Remove subsidy on electricity Within last 3 years, 6 MW of solar PV have been installed in the country through various models. 558 kwp solar PV in 3 public buildings in Gdh. Thinadhoo 740 kwp Solar PV installation at Male 960 kwp Solar PV installation at Finolhu Villas Resort 5

6 SREP Investment Plan Maldives SREP (Scaling Up Renewable Energy Program) Investment Plan, a critical plan to meet the policy priorities of the Government and SDGs Maldives SREP IP Objectives Transformation of electricity sector Large scale RE development Increase national energy security Creating a strong RE industry Attract foreign RE investors Emerge as model for other SIDS ASPIRE (Accelerating Sustainable Private Investments in Renewable Energy) POISED (Preparing Outer Islands for Sustainable Energy Development) 6

7 ASPIRE Contract awarded to install 1.5MW solar PV in Hulhumale island in August 2015 All necessary agreements signed (Power Purchase Agreement, Roof Lease Agreement) Physical implementation start in Jan 2018 and expected to complete by Sep 2018 Next phase contract preparation on going 2.5MW roof top solar outer islands expected to float tender in Jan

8 Design Objectives for POISED Optimum level of %RE penetration Minimize diesel fuel consumption Financial and economic viability Reduce impact on government budget for subsidies Minimize CO 2 emissions Minimize local environmental impact Optimize land-use Awareness of context, resources Flexibility 8

9 POISED Project Financing POISED Financing ADB Financing (Grant) Co- Financing (Loan) ADF $ 38 Million (Jan 2015) EIB $ 50 Million (March 2016) SREP $ 12 Million (Jan 2015) JFJCM (Additional Financing) $ 5 Million (Aug 2015) 9

10 POISED Phase 1 5 islands Contract Awards October 2015 Grid connected in 2017 Other contracts Technical consultants recruited in December 2015 Financial and IT consultants recruited in March

11 Addu City (1.6MW PV) 11

12 B.Goidhoo (200kW & 223 kwh of storage) 12

13 Lh.Kurendhoo (100kW & 110 kwh of storage) 13

14 Th.Buruni (100kW & kwh of storage) 14

15 GA.Villingili (300kW & 223 kwh of storage) 15

16 Addu Business as Usual (no PV, only Diesel) PV + Storage Average figures Average figures liters/day 1278 liters/day (5% fuel savings ) 0.3 liters/kwh 0.28 liters/kwh MVR 3.7M/yr 16

17 Th.Buruni Business as Usual (no PV, only Diesel) PV + Storage Average figures Average figures 485 liters/day 105 liters/day (22% fuel savings) 0.4 liters/kwh 0.3 liters/kwh MVR 306k/yr 17

18 Lh. Kurendhoo Business as Usual (no PV, only Diesel) PV + Storage Average figures Average figures liters/month 5944 liters/month (12% fuel savings) MVR 570k/yr 18

19 POISED Phase 2 Greater Male Haa Alifu Haa Dhaalu Replace smaller inefficient sets with 8 MW genset Awarded in April 2016 Project completed and commissioned in July 2017 Outer Islands 2 atolls in the North Haa Dhaalu Atoll (13 islands) tender awarded on 30 April 2017 (Detail design submitted to PMU) Haa Alif Atoll (14 islands) tender awarded on 24 May 2017 (Detail design submitted, expected to mobilize in Jan 2018) 19

20 POISED Phase 3 Shaviyani & Noonu Atoll Contract signing on 5 Dec 2017 Sh and N atolls Kaafu, Alifu Alifu, Alifu Dhaalu, Vaavu Atoll and Hulhumeedhoo Feasibility completed and submitted to European Investment Bank for review and approval K, AA, Adh, V Hulhumeedhoo 20

21 POISED Phase 4 Meemu, Faafu & Dhaalu Atoll - Site survey completed and feasibility preparation ongoing. M, F, Dh 21

22 JFJCM Project Advanced energy storage in Addu 1 MW additional solar PV under net-meetering Consulting support Design ongoing Procurement to start in 2018 K, AA, Adh, V 22

23 Implementation Status Completed 5 Implementation 58 Feasibility Study 99 Technical Survey 131 Total

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