Soneva invests $10m in solar power for Maldives resorts

Soneva expects that by mid-2023 more than half of the electricity used by Soneva Fushi and Soneva Jani will be generated by the resorts using renewable energy. 

The Maldives resorts’ solar power capabilities are being expanded following a $10m funding injection from international property finance house Aareal Bank. Solar panels will be implemented at strategic areas across the two resorts to maximise daily sunlight hours, and new substations are also being built. 

Soneva’s resorts have been carbon neutral since 2012 and a 2% environmental levy is added to every stay, with proceeds helping to offset carbon emissions. Soneva Fushi was the first resort to install a solar power facility in the Maldives in 2008, taking advantage of the island nation’s abundant sunshine. 

Bruce Bromley, chief financial officer and deputy chief executive of Soneva, said the company’s "greatest challenge" to reaching its zero-carbon goal was eliminating the emissions from the operation of its resorts in remote locations. He added: “Our partnership with Aareal Bank is a cornerstone of our capital structure and this facility [...] will now allow us to take a major step towards achieving carbon-free operations at our Maldives resorts.”