Maldives Spent MVR 10 Billion on Fuel Imports in 2025, Government Pushes Renewable Shift

The Maldives spent MVR 10 billion on fuel imports in 2025, accounting for approximately 10 percent of GDP, as the government intensifies efforts to reduce reliance on fossil fuels and transition towards renewable energy.

Minister of Tourism and Environment Thoriq Ibrahim disclosed the figures at a press conference held at the President’s Office, highlighting the scale of foreign exchange outflows associated with fuel imports. He said reducing this dependency remains a key national priority.

The Minister noted that electricity generation across inhabited islands, resorts and industrial zones continues to rely heavily on fuel. Current installed capacity stands at 310 megawatts across inhabited islands, 298 megawatts in resorts and 30 megawatts in industrial islands.

According to the Minister, supplying electricity to inhabited islands requires approximately 7,965 barrels of diesel per day, translating to over 2.9 million barrels annually. A similar volume is required to meet energy demand in the resort sector.

While acknowledging that a full transition to renewable energy is not immediately feasible, Thoriq said the government is targeting 33 percent of electricity generation from renewable sources under its national energy policy and Energy Roadmap.

He added that efforts are underway to strengthen the energy sector, including ensuring 24-hour electricity supply across all islands, upgrading distribution networks and expanding battery storage capacity to support renewable integration.

As part of these initiatives, 157 generators with a combined capacity of 115 megawatts have been deployed to islands, while six new power stations have been constructed to meet rising demand driven by development.

The government’s strategy reflects a broader push to enhance energy security, reduce external vulnerabilities and improve long-term sustainability in the country’s power sector.