Minister of Environment, Climate Change and Technology Aminath Shauna has called for diversification of the energy sector to reduce the dependency on fuel. She made the remarks at the opening ceremony of the Energy Investor Conference, jointly conducted by the environment ministry, the World Bank and International Solar Alliance.
Speaking at the virtual ceremony, Minister Shauna highlighted the efforts undertaken by the administration to achieve the target of net zero emissions by 2030. As such, the minister noted several projects have been launched to increase the utilisation of renewable energy resources and shift towards a more sustainable system. She highlighted the importance of diversifying the energy sector and reducing the dependency on fuel for power generation.
The ceremony was also attended by Minister of Finance Ibrahim Ameer and Minister of Economic Development Fayyaz Ismail. Both ministers highlighted the efforts undertaken by the administration to increase investor confidence in various different sectors of the Maldives, especially following the COVID-19 pandemic. The ministers also highlighted the importance of increasing investments for the energy sector and other sectors linked to sustainable development.
During the conference, information was provided on the solar PV systems that are being established across the Maldives undet the Accelerating Sustainable Private Investment in Renewable Energy (ASPIRE) and Accelerating Renewable Energy Integration and Sustainable Energy (ARISE) projects. The conference also included a session by the Maldives Monetary Authority (MMA) and a panel discussion on the importance of renewable energy investments for the development of small nations.