President Waheed says that sustainable development requires a sound energy policy

Tuesday, October 23rd, 2012

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President Dr Mohamed Waheed has said that a sound energy policy is necessary for sustainable development. The President made this statement while speaking at the World Energy Forum that began yesterday in Dubai.

Speaking at the ceremony, the President said that a development path primarily based on expensive diesel-generated electricity was unsustainable in any country, and that in Maldives today, we have already reached the point where the current expenditure on oil has become an obstacle to economic growth and development.

Speaking in this regard, the President highlighted the Maldives’ strategies in adopting a better energy policy.

“We in the Maldives have made a genuine and ambitious commitment toward achieving a low carbon economy. Our energy policies and sustainable development strategies have been shaped to accomplish this mission”, said the President.

President Waheed further underlined the three pillars that base our strategy to transform the energy sector: developing the capacity of public utility companies and private service providers; developing a strong and convincing business model to attract and integrate the private and public sector, behind a future oriented growth model; and to strengthen the necessary legislative instruments in order to provide the regulatory framework for investors and stakeholders in the renewable energy sector.

The President also spoke in detail of the Maldives’ plans to create an enabling environment for the growth of a reliable and sustainable energy sector in the Maldives, noting the enormous challenges being faced in achieving our ambitions towards low carbon development.

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