Soneva is expanding its solar power developments at Soneva Fushi and Soneva Jani in the Maldives based on a $10 million funding provided by German-headquartered Aareal Bank, boosting the electricity generated from renewable energy to over 50 percent at both resorts.
“While Soneva has been a carbon neutral company since 2012, it is the elimination of emissions from the operation of our resorts in remote locations that’s presented the greatest challenge to reaching our zero-carbon goal,” said Bruce Bromley, chief financial officer and deputy CEO of Soneva. “Our partnership with Aareal Bank is a cornerstone of our capital structure and this facility, which will now allow us to take a major 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.”
Plans are already underway to have solar panels implemented at strategic areas across Soneva Fushi and Soneva Jani to maximize daily sunlight hours using photovoltaic (PV) and battery hybrid systems. Resort teams are also working towards greater operations integration—including the building of new substations—to optimize and balance energy production. Once completed, Soneva Fushi will have installed a total of 2.1 megawatts peak (MWp) and battery storage of 2,500 kilowatt hours (kWh) to reach a combined PV penetration of approximately 55 percent by mid-2023. Meanwhile, Soneva Jani installations will total 2.8 MWp and, combined with battery storage of 2,000 kWh, is anticipated to result in a PV penetration of around 52 percent.
Soneva's resorts have been carbon-neutral since 2012, and a 2 percent environmental levy is added to every Soneva stay with proceeds helping to offset carbon emissions. Soneva Fushi was also the first resort to install a solar power facility in the Maldives in 2008, taking advantage of the island nation’s abundant sunshine to reduce operating costs without compromising the guest experience.
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