Accelerating Renewable Energy Integration and Sustainable Energy

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The development objective of Accelerating Renewable Energy Integration and Sustainable Energy Project is to increase renewable energy generation capacity and enhance the financial and environmental sustainability of the power sector in the Maldives. This project has four components. 1) The first component, Solar Photovoltaic Risk Mitigation, aims to support the government in mobilizing private sector investment to deploy solar PV generation capacity by providing a risk mitigation package for private sector IPPs. 2) The second component, Battery Energy Storage Systems, aims to support deployment of Battery Energy Storage System (BESS) in Addu City and other islands to enable a high penetration of solar PV in the power system while ensuring reliable supply in a cost-efficient manner. 3) The third component, Grid Modernization for Variable Renewable Energy Integration, aims to support grid upgrades and reinforcement of select grid systems, and site development to accommodate an increasing volume of renewable energy and BESS. 4) The fourth component, Technical Assistance, aims to provide Technical Assistance (TA) support to be implemented by the Ministry of Environment (ME), through its Project Management Unit (PMU).