Government Issues First Special Economic Zones Permit for
The project was launched last year following an agreement between the Maldivian government and Abraxas Power Corp to commence the first phase of operations. The Board
Solar PV with storage has proven suitable and competitive for Maldives' high penetration of renewable energy (POISED type B projects), with an average fuel savings of 25%. The concept design of hybrid systems (efficient diesel generators + solar PV plants + energy storage) has resulted in success for Maldives.
Maldives, located in the Equator, receives abundant solar energy. Specifically, it receives about 400 Million MW of solar energy per annum.
By leveraging the SEZ model, the project is also expected to catalyze further investment in complementary sectors as determined by the Board of Investments and the Developer. This project marks a significant milestone for the Maldives as it positions itself at the forefront of renewable energy innovation in the region.
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