Country Overview
The Asian country of the Republic of Maldives is an island nation located in the Indian Ocean. The population of the Maldives is approximately 520,565 people.
The Maldives consists of approximately 1,200 small islands, coral atolls, and sandbanks. The island nation extends over 510 miles from north to south and 80 miles from east to west.
In 2022, Maldives’s economy was ranked 145th in the world in gross domestic product (GDP). The country’s economy is dependent on tourism and the export of frozen fish, fish fillets, processed fish, and scrap iron.
Environmental Policies
In 2016, Maldives signed the Paris Climate Agreement, committing to an unconditional reduction in greenhouse gas emission of 10% by 2030, compared to a business-as-usual scenario.
Power Generation Capabilities
In 2021, 100% of the people of the Maldives had access to electricity. In 2021, state-owned State Electric Company Limited used refined petroleum (92.4%) and renewable energy (7.6%) to generate electricity in the Maldives. Solar is the dominant type of renewable energy used to generate electricity in the Maldives.
Recent renewable energy projects in Maldives include:
- 20 MW Solar Tender – In May 2023, the Maldives’s Ministry of Environment, Climate Change and Technology launched a tender for the deployment of multiple photovoltaic solar arrays. The solar arrays will replace diesel-fueled power generators on twenty of the nation’s islands.
Conclusions
Maldives imports all the nation’s refined petroleum for power generation and transportation. In 2021, Maldives imported U.S. $533 Million just for imported refined petroleum.
On 24 February 2022, Russia invaded Ukraine, prompting the European Union, United Kingdom, United States, Canada, Japan, South Korea, Australia, and New Zealand to place economic sanctions on Russian imports and exports. As a result, the crude oil and natural gas prices increased by over 50% from May 2021 to May 2022.
The Maldives has significant undeveloped renewable energy resources, including solar, wind, and biomass. The volatile price of refined petroleum has caused the Maldives to turn to solar for power.
Jack Kerfoot
Website – “Our Energy Conundrum”
Jack Kerfoot is a scientist, energy expert, and author of the book FUELING AMERICA, An Insider’s Journey and articles for The Hill, one of the largest independent political news sites in the United States. He has been interviewed on over 100 radio, podcast, and television stations from New York City to Los Angeles on a diverse range of energy issues.