An announcement has been made looking for investors to establish a 10 MW floating solar power system in Addu City.

The project is part of the World Bank-funded Accelerating Renewable Energy Integration and Sustainable Energy (ARISE) project, aiming to combat the Maldives' climate challenges by transitioning from fossil fuels to renewable energy, significantly reducing the nation's carbon footprint.

The work will be carried out on a 'Design, Build, Finance, Own, Operate, Transfer' (DBFOOT) basis, distributed among 2 lots.

The installation will be carried out for 2 MW floating solar panels under Lot 1, in Maradhoo Harbor and Hulhumeedhoo Central Harbor and under Lot 2, 8 MW floating solar panel at Hithadhoo Port Area.

The Ministry of Climate Change, Environment and Energy is expected to select a contractor for the project in the first quarter of 2025.