January 15 (Renewables Now) - The Asian Development Bank (ADB) on Wednesday said it held an official event to mark the inauguration of the solar power-battery storage-diesel hybrid facilities installed across 48 islands of the Maldives as part of the Preparing Outer Islands for Sustainable Energy Development (POISED) project to make the country less dependent on oil imports.
As part of the project, 7.5 MWp of solar photovoltaic (PV) systems have been installed, along with 5.6 MWh of battery storage systems and 11.6 MW of energy-efficient diesel gensets. In addition, distribution grids on 48 islands have been upgraded.
The project's overall goal is a minimum of 21 MWp of PV systems, which will produce 27.6 GWh of power a year and save 19,623 tonnes of carbon dioxide (CO2) emissions yearly. The project covers 160 inhabited islands of the atoll nation.
All installations funded with USD 12 million (EUR 10.7m) from its ADB's Strategic Climate Fund have been completed, while those funded with USD 5 million from the Japan Fund for the Joint Crediting Mechanism are currently in progress. ADB has also provided USD 38 million from the Asian Development Fund.
The project is also getting a USD 50 million loan from the European Investment Bank, disbursement from which have already started and the funds will be used for most of the remaining smaller islands.
(USD 1.0 = EUR 0.898)