Environment Minister Dr. Hussain Rasheed Hassan has revealed that over MVR one billion is spent on electricity subsidy from the state budget.
The Minister made the statement at a workshop 'Renewables and Energy storage study for Maldives' being conducted in collaboration with the World Bank on using batteries to lower the cost of producing electricity.
The Minister said Maldives is dependent on fuel to produce electricity, and around MVR 1 billion is utilized from the state budget to provide electricity subsidies to the people. Since Maldives receives sunlight throughout the year, the production of renewable energy must be increased to reduce the dependency on fuel for electricity production, said the minister.
Although electricity is provided 24/7, providing sustainable electricity services is a challenge, said the Minister. He further revealed that the government aims to increase the production of renewable energy through wind and water in addition to the use of solar panels.