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MALDIVES ENERGY SECTOR & SREP IP 4TH DECEMBER 2017, ABUJA , NIGERIA Ministry of Environment and Energy Republic of Maldives Maldives Overview • 26 atolls with 1192 islands • land area of about 300 km2 • 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 Maldives Overview • All energy requirements are met by fossil fuel • Spent over $236 million on oil imports in 2016 3 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 CO2 emissions: 473,784 tCO2 • Cost of Electricity 0.3 – 0.7 USD/kWh • 537,060 metric ton of fuel was imported in 2016 4 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 740 kWp Solar PV installation 960 kWp Solar PV installation buildings in Gdh. Thinadhoo at Male’ at Finolhu Villas Resort 5 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 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 2018. 7 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 CO2 emissions • Minimize local environmental impact • Optimize land-use • Awareness of context, resources • Flexibility 8 POISED Project Financing POISED Financing ADB Financing Co- Financing (Grant) (Loan) ADF EIB $ 38 Million (Jan 2015) $ 50 Million (March 2016) SREP $ 12 Million (Jan 2015) JFJCM (Additional Financing) $ 5 Million (Aug 2015) 9 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 2016 10 Addu City (1.6MW PV) 11 B.Goidhoo (200kW & 223 kwh of storage) 12 Lh.Kurendhoo(100kW & 110 kwh of storage) 13 Th.Buruni (100kW & 111.5 kwh of storage) 14 GA.Villingili (300kW & 223 kwh of storage) 15 Addu Business as Usual (no PV, only Diesel) PV + Storage Average figures Average figures 29071 liters/day 1278 liters/day (5% fuel savings ) 0.3 liters/kWh 0.28 liters/kWh MVR 3.7M/yr 16 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 Lh. Kurendhoo Business as Usual (no PV, only Diesel) PV + Storage Average figures Average figures 47012 liters/month 5944 liters/month (12% fuel savings) MVR 570k/yr 18 POISED Phase 2 Haa Alifu Greater Male 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 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 K, AA, Adh, V and submitted to European Investment Bank for review and approval Hulhumeedhoo 20 POISED Phase 4 • Meemu, Faafu & Dhaalu Atoll - Site survey completed and feasibility preparation ongoing. M, F, Dh 21 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 Implementation Status Completed 5 Implementation 58 FeasibilityStudy 99 Technical Survey 131 Total 160 23 .
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