Fenaka Corporation Limited has stated its solar power capacity will be increased to 20% of all power generated across the country by the end of this year.
Speaking to PSM News, Managing Director of Fenaka Corporation Ahmed Saeed Mohamed said the company is undertaking several projects across the country to increase its solar power capacity, as part of the efforts to reach the government's target of achieving net-zero emission by 2030. As such, Saeed said Fenaka targets to turn 70% of all power generated across the country into solar power by 2023. He added the company aims to reach 20% solar power capacity by the end of this year.
One of the main projects undertaken by Fenaka as part of the renewable energy transition is the Home Solar programme, where solar panels are installed in residential households. The programme will allow customers to reduce their monthly electricity bill by up to 97%, as a USD130 electricity bill of a household would drop to up to USD4. A home solar system can also be used for 20-25 years.
Fenaka is also conducting multiple projects across the atolls to produce 100% of power through renewable energy. In this regard, Fenaka revealed the power generated in Mundoo in Laamu Atoll, and Olhuvelifushi in Lhaviyani Atoll will soon be turned 100% renewable.