FENAKA Launches Project to Install a 12PMWp Solar PV as Part of Renewable Energy Targets

State-owned utility company; Fenaka Corporation Limited revealed their goal to convert 70% of their electrical services to renewable energy by the year of 2023, last year. In line with this, the Company announced yesterday that they have commenced work on project for installation of 12MWp Solar PV.

Under this project, they will be installing a 150kW Solar PV at Olhuvelifushi in Lhaviyani Atoll and 12MW Solar PVs in islands chosen by the Company. Upon completion of the project, it is estimated that the Company could annually save up to MVR 47.5 million from expenditure presently allocated for purchasing oil and will also minimize the amount of toxic gas released in to the atmosphere by 16.5 tonnes, annually. The project is envisaged to completed in a period of 18 months. Fenaka Corporation Limited is simultaneously engaged in 51 other projects across the country.

The renewable energy targets of the Company are also in line with the current administration’s pledge on increasing the usage of renewable energy sources across the country; being a leading advocate of the matter in the global community. Increase in usage of renewable energy sources in the country will also positively impact the economy of the country by constructively decreasing expenditure on non-renewable resources mainly in reference to state expenditure on fossil fuels.

Cover Photo: Fenaka