Aiming for 70% of power generation to be from renewable sources: FENAKA

Fenaka Corporation’s Managing Director Ahmed Saeedh speaks at the ‘Engineering Symposium 2019’ | Photo: Fenaka

Addu City, Maldives – Managing Director of FENAKA, Ahmed Saeed has told that the company aims to generate 70 percent of its electricity from renewable sources by 2025.

Speaking on the ‘Ahafele’ program conducted by local media outlet ‘adduLIVE’ last night, MD Saeed told that even now FENAKA was generating a total of 8 megawatts from solar around the Maldives and that their goal was to generate 70 percent of the total power generated by the company through renewable sources such as solar.

He also added that FENAKA was installing their own solar panels around the country and that Lh. Olhuvelifushi will be changed to an island which uses 100 percent renewable energy by FENAKA.

MD Saeed added that if the Maldives wanted to lower the cost of electricity charged to the customers, then the company and even the country needed to lower the amount of money spent on fossil fuel for power generation. He told that as Maldives imports 100 percent of its oil and fuels, every change to the global fuel prices effect the country and that the cost of electricity cannot be lowered because of this.

MD Saeed also added that the company was working inline with the governments plan to increase renewable energy sources in the country and that this would help to lower the cost of electricity in the country in the upcoming years.