The “Project Solar City,” the Maldives’ first 100-megawatt floating-solar initiative, has officially commenced operations. This project represents a key component of the broader undertaking to develop the Maldives’ inaugural Special Economic Zone (SEZ). The contract for this floating solar project, which aims to generate 100 megawatts of electricity from solar power and supply it to the national grid within a lagoon in Malé Atoll, was awarded to Abraxas Power Corporation of Canada. The Ministry of Economic Development and Trade granted the company initial phase approval for this project in April of the previous year. Sungrow Power Supply Co. serves as the technical partner for the project.
The Ministry of Economic Development and Trade has confirmed that official work has begun on the islands designated for this project. These initial activities include the mobilization of necessary materials, coastal protection measures, and land reclamation efforts. The Ministry further noted that these works commenced following the receipt of the permit for the project’s operational phase.
The Ministry of Economic Development and Trade highlighted that the initiation of this first phase of the project will pave the way for the development of critical infrastructure required for both the floating solar platform and other components of the SEZ. This milestone officially marks the transition of Project Solar City from its planning stage to the implementation phase. The Ministry also stated that Project Solar City, located approximately four kilometers offshore from Hulhumalé, will feature a large floating solar platform connected to the national power grid via an underwater cable. Furthermore, the project involves the installation of a solar energy generation system, a battery storage system, and an interconnection network to link this system to the islands.
Additionally, the Ministry indicated that this project, developed as a new renewable energy asset, will contribute significantly to diversifying the Maldivian economy beyond tourism and will serve as core infrastructure for the multi-purpose SEZ. The Ministry also stated that the project will enhance the Maldives’ energy security and facilitate the nation’s progress towards its renewable energy targets. With an investment exceeding $100 million for the renewable energy component, the total investment for this project stands at $187 million.
The Ministry of Economic Development and Trade anticipates that the project will be completed by 2027. The government’s objective is to transition 33% of the Maldives’ energy consumption to renewable sources by the end of 2028. The government has estimated that this shift will result in annual savings of $42 million in fuel expenditure.
