Maldives: Solar Power Development and Energy Storage Solution (AIIB-000377)

  • Maldives
Where the impacts of the investment may be experienced.
Specific Location
Addu, Fuvahmulah, Greater Male, Hulhumeedhoo, Thimarafushi
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Government of Maldives
The holder of the loan, grant, or other investment.
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ AIIB website

Updated in EWS May 20, 2020

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Project Description

According to the bank's documents, "The Project involves the development of 36 MW solar power project and 106 MWh of battery energy storage solutions across five islands (Addu, Fuvahmulah, Greater Male, Hulhumeedhoo, Thimarafushi) in the Maldives. The Project also involves grid modernization for the integration of variable renewable energy with the grid. The Project comprises of following components:

Component 1. Solar PV Risk Mitigation
Component 2. Battery Energy Storage System (BESS)
Component 3. Grid Modernization for Variable Renewable Energy (VRE) Integration
Component 4. Technical Assistance

AIIB loan will finance activities under Component 3. The Project is co-financed with the World Bank (WB), Clean Technology Fund (CTF), and Canada Facility."

Investment Description
  • Asian Infrastructure Investment Bank (AIIB)
Contact Information

Asian Infrastructure Investment Bank
Amit Kumar, Project Team Leader

World Bank
Amit Jain, Task Team Leader

Mariyam Abdul Nasir
Chief Resource Mobilization & Debt Management Executive

Maumoon Khalid, Project Manager