Kaimoo Hotel to Utilize Solar Power
Maldives Promotion House – Kaimoo Hotels has signed an agreement with the State Electric Company (STELCO) to produce electricity via Solar Panels. As per agreement STELCO will purchase power produced by Kaimoo Hotels through Feed-In-Tariff. This is the first initiative of its kind taken by a Maldivian company.
President Mohamed Nasheed also participated in the ceremony held in Mookai hotel to inaugurate the project. He noted that the goal is to become an example to the world, on growth and development of a country not depending on its oil usage while renewable energy being the more economic option.
In his speech delivered at the Inaugural ceremony of Renewable Energy through Feed-In-Tariff in the Maldives, the President said that not only the charge of electricity would be minimised by shifting from oil fuel to renewable energy sources, but the expenses spent to buy the oil fuel would also be reduced.
Referring to the hike in oil prices, President Nasheed highlighted on the importance of generating power through sources other than oil fuel, noting that more than 31 percent of expenses spent on industrial needs in the Maldives, was spent on electric costs.
Speaking at the ceremony Housing Minister Mohamed Aslam said that under the agreement a total of 6 Kilowatts of energy will be produced by the solar panels placed at the hotels.
Even today, Kaimoo Hotels use solar power to heat the water used in the hotels.