Third Maldives renewable energy investors conference next week
Investors will also be briefed on the Maldives' vision to become a net zero nation and the government's efforts to develop the energy sector.
By
Fathmath Ahmed Shareef
The government is gearing up for the third investor conference to be held by the environment ministry along with the World Bank to attract private investors for renewable energy projects in the Maldives.
The conference, titled Renewable Energy Investor Conference (REIC 2023), will be held from June 7-8 at Bandos Maldives Resort.
Environment minister Aiminath Shauna, finance minister Ibrahim Ameer and economic minister Fayyaz Ismail will speak on behalf of the government at the conference, which will also be attended by investors online.
Country Director for Sri Lanka, Nepal and Maldives Faris Hadad-Zervos will speak on behalf of the World Bank.
The environment ministry said the main objective of the conference was to attract private investment in renewable energy projects planned by the environment ministry with the help of the World Bank. Overall, investors will be informed about the opportunities in the country's renewable energy sector, the ministry said.
Investors will also be briefed on the Maldives' vision to become a net zero nation, the ministry's current efforts to develop the energy sector and plans to be done, the ministry said.
At the conference:
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The 16 MW renewable energy project announced under the World Bank-funded ARISE project and the 10 MW floating solar PV system to be installed in Addu will be inaugurated
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Investors will get answers to questions about projects
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World Bank will brief investors about energy projects and risk mitigation framework for these projects
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It will also provide information on the risk coverage and guarantee mechanisms earmarked for the World Bank's ASPIRE project in Maldives
The two-day conference is scheduled to have a session to share with investors the experiences of some of the companies that have set up floating solar systems in other parts of the world and the Maldives. Companies that have floating solar PV systems in countries like Maldives, Singapore and Norway will share information about their projects.
In the past, the environment ministry has organised several investor conferences dedicated to the energy sector. This year's investor conference will be its third.
