Abu Dhabi Fund backed project earns global certification for innovation

By Backend Office, Desk Reporter
Maldives
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The Abu Dhabi Fund for Development (ADFD) backed renewable energy project in the Maldives has achieved certification from Global Innovation Institute (GINI), a world’s leading professional certification, accreditation and membership association in the field of innovation.

In 2015, the first of its kind initiative was financed by ADFD through a concessional loan of $6 million. The projects were targets to address the country’s waste management and energy challenges by building facilities to generate about 4MW of energy using waste in an eco-friendly manner in the three Islands of Maldives that includes Vandhoo, Addu and Kulhudhuffushi.

Mohammed Saif Al Suwaidi, Director-General of ADFD, exclaimed that they are proud to support the project that aligns with the targets of the fund to bring socio-economic development around the globe through sustainable methods.

The Maldives put forward an example of how the environment and community profited from a single innovative project and it has a great capacity to decrease pollution level.

About 122,000 people of Maldives will be benefited from the initiative of clean energy and integrated waste management which annually saves 3.5 million liters of diesel and reduces carbon-dioxide emission by 9,200 tonnes.

Additionally, the country will be able to produce 551,000 liters of desalinated water each year with clean energy and most importantly 55,000 tonnes of waste will be incinerated which helps in reducing marine pollution.

“The initiative thus helps the Maldivian government to achieve Sustainable Development Goal (SDG) 7, which seeks to ensure everyone has access to affordable, reliable and modern energy services by 2030; as well as SDG 15, which aims to conserve the environment,” Al Suwaidi said.

Al Suwaidi further added that certification received for the initiative by the Global Innovation Institute proves the fund’s commitment towards backing projects that give innovative and sustainable solutions. He further highlighted ADFD’s role in supporting various countries in the world to attain their socio-economic objectives through infrastructure projects.

The Maldives is targeting to be a low-carbon economy and the government plans to meet 30 percent of daytime electricity demand with green energy.

Addressing the ADFD’s contribution to the project, Ajwad Mustafa, Permanent Secretary at the Maldives’ Ministry of Environment said, even after being a tourism economy we linger in terms of waste management. ADFD has been instrumental in the development of our energy sector.

The ADFD started to offer support in the Maldives in 1976 and it has financed for 10 development projects with a total value of more than $148.9 million.

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