President Dr Mohamed Muizzu has announced plans for the 'Floating Solar Project', a key initiative to be launched in 2027, aimed at reducing the Maldives' dependence on non-renewable energy sources.

Delivering his Presidential Address on Thursday, the President revealed that the Government will issue Special Economic Zone Development permits to foreign investors this year to facilitate the project. Once completed, the initiative is expected to add 100 megawatts of solar energy to the nation’s power supply, marking a significant step towards expanding renewable energy capacity.

Highlighting the Government’s ongoing efforts in the renewable energy sector, President Dr Muizzu noted the launch of the Magey Solar initiative, designed to encourage greater citizen participation in clean energy production.

The President also stated that 15 megawatts of renewable energy were added to the national power grid over the past year and reaffirmed the Administration’s commitment to achieving its pledge of generating 33 per cent of the country's energy needs from renewable sources.