Using $10 million in investment from the German-based Aareal Bank, the innovative hospitality company Soneva is expanding its solar power developments at Soneva Fushi and Soneva Jani in the Maldives, increasing the amount of electricity produced from renewable sources to over 50% at both resorts.

According to Bruce Bromley, chief financial officer and deputy CEO of Soneva, "While Soneva has been a carbon neutral firm since 2012, the elimination of emissions from the operation of our resorts in remote places has provided the largest obstacle to realising our zero-carbon target." This facility, which will now enable us to take a significant step towards achieving carbon-free operations at our Maldives resorts, demonstrates Aareal Bank's commitment to supporting companies like Soneva on our transition to a zero-carbon future, according to Soneva. "Our partnership with Aareal Bank is a cornerstone of our capital structure."

A new initiative will increase renewable energy at Soneva resorts in the Maldives

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Soneva Fushi and Soneva Jani

Soneva Fushi and Soneva Jani

Photovoltaic (PV) and battery hybrid systems are already being planned to be installed at strategic locations across Soneva Fushi and Soneva Jani to make the most of the daily sunlight hours. To maximise and balance energy output, resort teams are also striving toward deeper operations integration, including the construction of additional substations. By the middle of 2023, Soneva Fushi will have constructed a total of 2.1 megawatts peak (MWp) and 2,500 kilowatt hours (kWh) of battery storage to achieve a combined PV penetration of about 55 percent. 2.8 MWp worth of Soneva Jani installations will be added to 2,000 kWh of battery storage to produce an estimated 52 percent PV penetration.

Since 2012, Soneva's resorts have been carbon-neutral. Additionally, a 2 percent environmental charge is applied to each stay, with the money going toward reducing carbon emissions. In addition, Soneva Fushi was the first resort in the Maldives to set up a solar power facility in 2008. By doing so, it was able to lower operating expenses without sacrificing the quality of service for visitors.

Soneva Fushi
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Soneva Jani, Noonu Atoll, Maldives
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