Thorig: Dependence on oil import is being reduced

Minister of Environment and Energy Thorig Ibrahim has said the government was working towards reducing import of and expenditure on oil.

Thorig made this remark at a ceremony at SHE Building today, for the signing of an agreement with a Chinese company for the design, supply, installation, and maintenance of 2.5 MW of grid-tied solar PV diesel hybrid system in five islands.

Thorig said that a large portion of the country’s GDP is spent on oil, limiting developmental projects and prompting the government to prioritise projects aimed at increasing awareness on energy saving systems and using solar energy in more areas.

This includes provision of energy efficient resources to government institutions, private organisations, and individuals, Thorig said.

Earlier today, State Electric Company (Stelco) said MVR 2.7 million was spent daily on buying oil for production of electricity.

Stelco buys 240,000 litres of diesel from State Trading Organisation (STO) daily, supplied from STO’s oil tanks in Funadhoo; of which 230,000 litres are used for the production of electricity.