Fenaka Corporation has stated that its in-house solar programme is projected to save MVR 19.9 million annually on diesel costs.

Reflecting on its performance over the past year, Fenaka highlighted significant achievements despite financial challenges, including enhanced service capacity, the launch of operations on new islands, and substantial investments in renewable energy projects.

This year, under the in-house solar programme, the company has installed 2,298 kilowatts of solar panels and increased battery storage to 7,005 kilowatts. The programme focuses on installing solar panels on Fenaka office and power plant rooftops, aiming for a total capacity of 5.2 megawatts with an investment of MVR 92 million.

The project is expected to save 2.6 million litres of diesel annually, translating to MVR 19.9 million in savings.

Additionally, grid-tied solar systems with capacities of 18 kilowatts and 30 kilowatts have been installed across 12 island offices this year.

In parallel with its in-house solar programme, Fenaka is also collaborating with the Ministry of Climate Change, Environment, and Energy on the Magey Solar Programme, which aims to provide households with solar panels of 3 kilowatts and 5 kilowatts, reducing electricity costs and promoting renewable energy adoption.