Accelerating Renewable Energy Integration and Sustainable Energy (WB-P172788)

  • Maldives
Where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
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.
Voting Date
May 27, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
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)
$ 1.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 117.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS May 18, 2020

Disclosed by Bank Dec 4, 2019

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Project Description

According to the bank document, the project objective is "to increase generation capacity from renewable energy sources and facilitate integrationof renewable energy" The project aims to get results of Cumulative Installed Generation Capacity of Solar PV and Private Capital Mobilized.

Investment Description
  • World Bank (WB)

Private Sector Equity US$ 50 million
Other IFIs US$ 10 million
Trust Fund US$ 20 million
Government US$ 36 million

Contact Information

World Bank
Amit Jain, Joonkyung SeongSenior Energy Specialist

Ministry of Finance
Ibrahim Ameer
Minister of Finance

Implementing Agencies
Ministry of Environment
Hussain Rasheed Hassan
Minister of Environment

FENAKA Corporation Limited
Mohamed Rasheed,Chairman

State Electric Company Limited (STELCO)
Hassan Mughnee, Managing Director


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