Dec 20, 2019
In order to reduce the Maldives’ overreliance on imported fossil fuels, the Asian Development Bank (ADB) launched the Preparing Outer Island Sustainable Electricity Project (POISED) in 2015. One key component of this program was financing from the Climate Investment Funds’ (CIF) Scaling Up Renewable Energy in Low Income Countries Program (SREP). While still underway, POISED has proved to be a successful pioneer in the Maldives, it has already achieved up to 28 percent in fuel savings; additionally it is the first large-scale PV initiative–and is largest energy sector intervention in the Maldives- in the outer islands, and a proof of concept that investing in renewable energy is financially sound. The POISED project is an example of an unprecedented effort in the Maldives to reduce specific diesel consumption and mobilize financing for renewable energy investments and energy efficiency. It was undertaken in challenging circumstances and has demonstrated significant progress despite the adversities it encountered. This case study discusses the challenges that the program implementers faced during implementation and how these challenges were overcome.
Click here to download the case study and summary.
