Project Success Story: Supporting Solar Development in the Maldives

As we celebrate five years since launching our inaugural Green Bond, RE Royalties is proud to spotlight a project made possible through the support of our bondholders. The Maldives Solar Project, developed in partnership with Abraxas Power Maldinvest Ltd., demonstrates how sustainable financing can drive both environmental and social progress — even in some of the world’s most remote and climate-vulnerable regions. 

In November 2024, RE Royalties entered into an agreement with Abraxas Power Maldinvest Ltd., a wholly owned subsidiary of Abraxas Power Corp., to provide up to CAD $10 million in secured loan financing to support the construction of solar projects with a combined generation capacity of 0.77 MWDC. These projects are in the Maldives — at a hospital in Malé, the capital city, and at an island resort approximately 50 kilometres north of Malé. 

By displacing diesel generation, these solar projects will reduce operating costs, cut emissions, and improve local air quality in two vital sectors: healthcare and tourism. The transition to solar power not only supports energy independence and resilience in the Maldives, but also directly contributes to the nation’s broader decarbonization goals. 

With the support of our green bond investors, RE Royalties is helping to finance distributed solar generation that delivers measurable benefits to communities and the environment. 

We extend our gratitude to all green bondholders and partners who continue to make this progress possible. Together, we are proving that sustainable capital can deliver profitable returns and meaningful impact, driving real and lasting change around the world.