Maldives banks on Indian cooperation to achieve 33% renewables target by 2028

Addressing the 6th International Energy Conference in New Delhi, Maldives Minister of State for Tourism and Environment Muaviyath Mohamed said, "Unpredictable geopolitical shifts and supply chain vulnerabilities remind us that no country can ensure its energy future in isolation. We must strengthen international partnerships, share knowledge, and technology."

For the Maldives, the challenge is acute. The Minister noted that the island nation's fossil fuel imports consume 13.5 per cent of GDP, while fuel subsidies exceed USD 150 million annually.

"Being a very small and low-lying island state, our vulnerabilities are pronounced. Heavy dependence on imported fuel and high infrastructure costs make the transition urgent but also complex," the Minister explained.

To address these pressures, President Dr. Mohamed Muizzu has committed the Maldives to produce 33 per cent of its electricity from renewable sources by 2028. Progress has already been significant; renewable installed capacity has grown from 53 MW to over 100 MW in just two years, with another 250 MW in the pipeline.

India has emerged as a pivotal partner in this transition. "Of course, we are working very closely with our Indian counterparts," the Minister said. "Recently, I had the opportunity to engage in fruitful talks at the International Solar Alliance in Delhi. Indian companies have expressed strong interest in our renewable sector, and with the connectivity and proximity between our two countries, it is always easier to do business with India."

The Minister invited more Indian firms to step into the Maldivian market, saying, "We welcome the companies already investing in the Maldives, and we encourage more to join us. Together, we can align strategies, drive innovation, and build a resilient energy future."

Backed by financing from the World Bank, Asian Development Bank, and bilateral partners, the Maldives is confident of achieving its ambitious 2028 target. The Minister emphasized that the partnership with India goes beyond business: "In today's uncertain world, enlightened self-interest must guide our actions. Only by working together can we tackle the interconnected challenges of energy, climate, and development."

For India, this cooperation complements its ambition to become a global leader in clean energy while strengthening regional ties. For the Maldives, it represents a pathway to reduced dependence on volatile fuel imports, stronger economic resilience, and a sustainable future. (ANI)