Fenaka Corporation Limited has signed an agreement with a Chinese company; Dongfang Electric International Corporation, laying the groundworks of establishing a power generator of 32MW in Addu City. The agreement was signed by Managing Director of Fenaka Corporation Muaz Mohamed Rasheed and Vice President of Dongfang Electric Sun Jen Ping.
Speaking at the signing ceremony, Managing Director Muaz revealed that despite many coordinated efforts from the previous government to stabilise electricity provision within the city, a permanent resolution was not achieved. Muaz observed that the lack of stable electricity provision has posed residents of the city to face several challenges to this date.
Muaz stated that the establishment of a 32MW-power generator under the agreement, would serve as a viable solution for the next 20 to 25 years. He disclosed that the work to establish the power generators will be completed in various phases. The first phase includes setting up two 9.8MW generator sets which are to last for 15 years. Following that, two 5.8MW generator sets will be established. Muaz further emphasised that the power capacities of the generators within the power plant could be enhanced to provide a maximum of 50MW. The project is to be completed within a matter of six months.
The finance required for the project will be settled by Dongfang Electric International Corporation, with the government repaying back the amount within a period of 12 years. Muaz expressed confidence that the revenue generated through the power plant will be utilised for the repayment with no difficulties.
This initiative aims to eliminate all the obstacles the residents of Addu City have faced for the past years.