Full steam ahead towards meeting sustainable energy objectives for the Maldives

March 3, 2024

energymission — Energy Mission meeting with H.E Thoriq Ibrahim of Ministry of Climate Change, Environment and Energy, Maldives and team

One of the major goals that came out from COP28, was to triple renewable energy capacity by 2030. At the sidelines of COP28, productive exchanges were held between UNDP and the Government of Maldives, reflecting UNDP partnership with Maldives to achieve the country’s 33% Renewable Energy Goal by 2028. Joining forces with a consortium of partners is the key to reaching this ambitious milestone.

From March 3-7th, UNDP Maldives is deploying a consortium of international expertise, the Energy Mission, with the objective to complement the Government's sustainable energy objectives and assess viability of investment opportunities for clean renewable energy initiatives for outer islands of Maldives and form new partnerships to advance renewable energy solutions.

The mission met with key partners and stakeholders in the energy front, including the Minister and technical team from the Ministry of Climate Change, Environment and Energy, Maldives, Special Envoy for Climate Change, representatives from Ministries of Finance, Economic Development, Transport and Ministry of Tourism, Bank of Maldives, utility companies, and officials from the The World Bank, IFC - International Finance Corporation and Asian Development Bank (ADB) in the Maldives, as well as the UN Resident Coordinator in the Maldives.

Important guidance was received by Minister H.E Thoriq Ibrahim of Ministry of Climate Change, Environment and Energy, Maldives at the Energy Mission meeting aligning priorities to Government of Maldives' objectives. Building synergies and financing instruments remains key in achieving results to meet ambition of 33% transition to renewable energy.

At the meeting with ministries, the mission took a deep dive of current and future energy needs across development sectors, to unpack investment opportunities, financial instruments, sector specific interventions and energy security in financing for development.

The Energy Mission held engaging conversations with Ali Shareef Special Envoy for Climate Change, on diversification of energy landscape to achieve mitigation ambitions.

The mission concluded with a field visit to purview to energy usage and demands in Maldivian communities.