What is ignite power?

Ignite Power is redefining infrastructure through life-enabling technologies, bridging infrastructure gaps while leading Africa into a more sustainable, inclusive future. We believe that basic services such as internet access, electricity, and healthcare are essential for human development and deserved by all.

How is electricity price regulated in Maldives?

The price of electricity for public supply is regulated by Maldives Energy Authority. The calculation of electricity tariff is based on the cost of electricity generation, distribution and ability to pay. For the public electricity generation the government has been giving subsidy to meet the increase in fuel price. 9. New/Renewable Energy Resource

Does Maldives import hydrocarbon energy from abroad?

Maldives imports all its hydrocarbon energy requirements from abroad. The details of various types of fuel imports are given in Table 4. At the moment, only wind and solar PV based electricity production is used.

How will aspire and rise help the Maldives' energy transition?

World Bank-financed projects ASPIRE and ARISE support the Maldives' energy transition by installing more than 53.5 megawatts of solar capacity and 50-megawatt hours of battery storage. This will reduce Maldives' annual import bill by about $30 million, with a project lifetime saving of $756 million over 25 years.

How will aspire solar projects benefit Maldives?

In general, the projects will benefit the people of Maldives and the government by lowering electricity prices and providing quasi-budgetary support. 2014 –The first 1.5 megawatt (MW) solar project under ASPIRE had four investors' bids, resulting in a high PPA of 21 US cents per unit of electricity.

Does Maldives have oil?

Indigenous Energy Resources and Development Potential Maldives does not have any known reserve of coal, oil or gas. There was an attempt by Shell Company to explore oil in early 1990’s. It was concluded that there was no significant deposits of oil or gas in the studied area.