Renewable energy prices posed with high potential
24 Nov 2011, 7:36 PM
Eleanor Johnstone
The cabinet has set prices for government-owned utilities companies to purchase renewable energy as part of an investment scheme to bring the Maldives closer to its carbon neutral goal.
“We think renewable energy has a lot of potential, it is why we are in the business. We think this is where things should be going,” said Renewable Energy (REM) Director Hudha Ahmed. Noting that diesel rates are currently higher than projected solar energy rates, she said solar energy is a more reliable source long-term.
According to the Cabinet’s decision, State Electric Company Limited (STELCO) can buy a unit for Rf3.42. South Central Utilities Limited will be charged the highest rate per unit (Rf5.39), and Upper North Utilities Limited can buy a unit for Rf4.44. Units are available to Northern Utilities Limited for Rf4.40, Central Utilities Limited for Rf3.97, and Southern Utilities Limited for Rf3.94.
The Maldives currently aims to cut carbon emissions by 60 percent using solar power. Currently, no company is carrying out a commercial renewable energy project in the Maldives.
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