Maldives Launches $187 Million Floating Solar Project to Power SEZ

The Maldives has officially commenced construction of its landmark 100 MW "Project Solar City," a massive floating solar initiative that represents a significant advancement in the nation's renewable energy ambitions. The project forms the core infrastructure for the country's first Special Economic Zone and has now moved from planning to active implementation. The Ministry of Economic Development and Trade confirmed that on-site work is underway, including material delivery, shore protection, and land dredging activities following necessary approvals. The $187 million project will install extensive floating solar platforms in a lagoon within the Malé Atoll, generating 100 MW of electricity that will feed directly into the national grid through undersea cables. Canadian firm Abraxas Power Corporation holds the implementation contract for the facility, having received permission for the initial phase in April last year. Sangro Power Supply Company serves as the technical partner for the ambitious undertaking, which targets completion by 2027. The solar project is central to the government's national energy strategy, which aims to transition 33 percent of the country's energy consumption to renewable sources within the specified timeline. Officials project the shift to sustainable power will generate significant economic benefits, saving an estimated $42 million in annual fuel costs while reducing the nation's dependence on imported fossil fuels.