Signing ceremony of the "Maldives 12 Island Light Diesel Storage Microgrid General Contracting Project" marked an important milestone in the country's sustainable energy development. Jointly launched by the Asian Development Bank (ADB) and the Maldivian government, this project is part of the Outer Islands Sustainable Energy Development Project (POISED) series. The Minister of Environment of the Maldives, along with the leaders of FENAKA Electricity Bureau and the head of the Maldives Project Department of Microgrid, attended the ceremony in Male.

The project focuses on the transformation of existing power stations on 12 islands and the construction of 12 microgrid systems. These microgrids will replace the original pure diesel generator power supply with light-storage-diesel systems, thereby promoting a more sustainable and efficient energy source for the islands. This initiative is part of the larger POISED project funded by ADB, which aims to develop sustainable energy solutions for the outer islands of the Maldives. It highlights the bank's commitment to supporting microgrid projects and the promotion of renewable energy.

In Suriname, the Inter-American Development Bank (IDB) announced its support for the country's power sector. Suriname, a member of the Caribbean Development Bank, has accumulated arrears of over US$26 million in dues to various Caribbean financial organizations. To help alleviate the financial strain and promote sustainable development, IDB will provide a US$40 million loan to the Suriname Electricity Company. This loan will be utilized to improve the country's electricity infrastructure and services, increase the share of renewable energy generation and enhance energy efficiency.

These two events showcase the bank's focus on microgrid projects and its corresponding policy support. The ADB's involvement in the Maldives and IDB's intervention in Suriname demonstrate the importance placed on sustainable energy development in these countries. By investing in microgrids and promoting renewable energy sources, these banks are contributing to the global efforts of reducing carbon emissions and transitioning towards a more sustainable future.

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