Flocean and WaterConnect have signed a development agreement to jointly prepare and structure a subsea desalination project in the Maldives, intended to supply water to Malé and Hulhumalé.
Under the agreement, WaterConnect will contribute its project financing capabilities, while Flocean will provide its subsea desalination system. The companies state that the goal is to produce an investment-ready project aimed at improving water supply reliability and reducing the total cost of water for the two islands. According to Flocean, locating desalination equipment underwater allows the system to use natural ocean pressure, which the company says reduces energy consumption by approximately 40% compared with conventional methods, while also limiting the onshore footprint and brine discharge.
The project will be developed in coordination with the Malé Water and Sewerage Company (MWSC) and is based on a Memorandum of Understanding signed between MWSC and Flocean. The first phase will be a feasibility study, which is intended to give MWSC the data and analysis needed to evaluate the project and decide on a business model and technical approach.
Under the agreement, WaterConnect will contribute its project financing capabilities, while Flocean will provide its subsea desalination system
Alexander Fuglesag, Founder and CEO of Flocean, said the company was pleased to partner with WaterConnect to develop a project suited to conditions in the Maldives, noting WaterConnect's financial network and focus on sustainability.
John Moyer, President of WaterConnect, said the partnership was intended to combine technology and financing to move the project toward investment readiness, and described Flocean's system as a lower-energy alternative with reduced environmental impacts.
The Maldives faces water supply challenges related to limited freshwater availability, land constraints, and sea level rise. The companies state that the project is intended to support long-term water supply resilience in the Maldives and to serve as a potential model for similar island environments.
