Investing in renewable energy is essential: President

President Dr Mohamed Waheed Hassan Manik has said that from an economic point of view, it is essential for Maldives to invest in renewable energy.

The President said this at a ceremony held at Hiriya School to handover to the Maldivian government the solar panels set up with the assistance of Japanese government. The project was conducted to promote the production of environment-friendly energy in the Maldives.

Noting that a large percentage of the Maldivian GDP is spent on oil, the President said that it is essential for Maldives to invest in renewable energy.

“A large percentage of our GDP is spent on importing diesel. Investing in renewable energy is essential not just to help the environment, but also from an economic point of view.”

The President said that the Maldives will work with international groups to produce renewable energy. The government will also make efforts to make this industry attractive to private companies.

The Japanese Ambassador to the Maldives Nobuhito Hobo, senior officials of Jaika and several Ministers participated in today’s ceremony.

A moment of silence was observed at the ceremony, in remembrance of the earthquake and tsunami disasters in Japan one year ago.

Solar panels have been set up on the roofs of President’s Office, Social Centre and Kalaafaan School, with the assistance of the Japanese Government.