The Environment Ministry has made an announcement seeking investors to set up a 10 megawatt floating solar PV system in the sea in Addu city.
The project is to be carried out with World Bank assistance, the Environment Ministry said in the announcement made on Monday.
Investors were sought for the project on a design, build, finance, own, operate and transfer basis, which means a party interested in designing, establishing and operating the system.
A contractor to carry out the work will be chosen in the first quarter of 2025, the Environment Ministry said.
Environment impact assessments at the sites designated for the floating solar panel system as well as other expert surveys followed by work on the project are estimated to begin in the second quarter of 2026, the Environment Ministry said.
Under the Addu floating solar project, solar PV systems of 8 megawatts, two megawatts and one megawatt are tl be established respectively at the Hithadhoo port area, Maradhoo harbour area and Hulhumeedhoo harbour area.
When electricity is generated from solar power upon completion of the project, fuel consumption will be reduced by 4.43 litres a year, saving MVR 35.5 million from expenditure on oil imports, the Environment Ministry said.
