Government Issues the First Permit Under the Special Economic Zones Act for Project Solar City

The Board of Investments has issued the first-ever permit under the SEZ Act for a groundbreaking large-scale floating solar project in the Maldives. This pivotal development aligns closely with President Dr. Muizzu’s ambitious vision for a greener, more sustainable Maldives. By significantly reducing the country’s reliance on imported fuel, the project is poised to save over USD 40 million from the national fuel bill. The initiative directly supports President Dr. Muizzu’s target of meeting 33% of the country’s electricity demand through renewable sources.