The launching of the Fund for Renewable Energy Systems Applications (FRESA) held in Maleí on January 28, saw the celebration of a milestone in the efforts to help Maldives remove the barriers to the introduction and wide use of renewable energy technologies.
The FRESA scheme is an initiative of the Renewable Energy Technology Development and Applications Project (RETDAP), launched in 2004, assisted by Global Environment Facility (GEF) and the United Nations Development Programme (UNDP). The development goal of RETDAP is to reduce the growth rate of GHG emissions from fossil fuel using activities, through the removal of the major barriers to the development and application of renewable energy-based systems that can supplant part of the fossil fuel use in the Maldives.
Maldives has no conventional energy sources that it can utilize to meet its energy needs. Presently, 98 per cent of its energy needs are met by import of fossil fuels. Utilising indigenous energy resources to meet an increasing proportion of its energy needs has become a necessary and urgent pursuit for the Maldives.