Maldives to receive up to US$30 million in alternative energy funding

The Maldives will receive up to US$30 million from the Climate Investment Fund (CIF)’s Scaling Up Renewable Energy Programme (SREP) to pilot renewable energy, the President’s office has stated.

CIF said the Maldives could potentially access a further US$60 million in reserve, following the CIF 2011 Partnership Forum being held in Cape Town, South Africa.

“The CIF’s Strategic Climate Fund gives priority to highly vulnerable least developed countries, including the small island developing states,” said the President’s Envoy for Science and Technology, Ahmed ‘Sappe’ Moosa.¨As momentum grows for climate action on the ground, the CIFs can be a real game-changer.”

The Maldives last year spent 25 percent of its listed GDP, a total of US$244 million, on importing fuel. Most of this was marine diesel used to power the country’s dhoni and speedboat fleet.