(AP3F062-PP023) Project Definition and Project Preparation Assistance: Maldives Solar PPP Project, Republic of Maldives
COUNTRY:
Maldives
TA AMOUNT:
$1,100,000
TYPE OF ASSISTANCE:
Project Preparation
PROJECT STATUS:
Active
TOTAL PROJECT COST:
$30000000
Beneficiaries
• The population of Maldives
• Ministry of Environment, Climate Change and Technology (MOECCT)
• Ministry of Finance (MOF)
• Ministry of Environment, Climate Change and Technology (MOECCT)
• Ministry of Finance (MOF)
Background
The Government of Maldives is planning to achieve net-zero carbon emissions by 2030 with international support and assistance by unlocking the country’s solar energy potential.
To assist the government, in 2021, ADB’s South Asia Regional Department processed a project for investments in the grid infrastructure and battery storage systems in the outer islands (namely, the Accelerating Sustainable System Development Using Renewable Energy or “ASSURE”).
In order to complement the ASSURE project with private sector expertise and investment, the government planned to develop solar photovoltaic power plants in 20 to 25 outer islands of the country with a combined capacity of 20 to 25 MW. Once completed, these solar power plants are expected to avoid approximately 18,500 tons of carbon dioxide-equivalent annually.
Key Activities
The proposed AP3F TA project would include, but are not limited to:
- Project definition assistance for conducting assessment activities such as high-level legal framework review that will support planning for more detailed project preparation and structuring work
- Project preparation assistance in the: (i) development of tender documents including feasibility and bid evaluation financial model; (ii) conduct of the tender process until commercial closure
Expected Outcomes
Development of the 20-25 MW solar IPP in the outer islands of Maldives