The future of the Maldives' energy sector looks promising under the administration of President Dr Mohamed Muizzu, according to Hussain Fahmy, Managing Director of State Electric Company Ltd. (STELCO). Fahmy made this statement in a social media post commemorating the 75th anniversary of STELCO.
Established 75 years ago, STELCO has undergone significant development. To mark this milestone, the company plans to hold numerous celebratory activities. STELCO's most significant achievement is its contribution to nation-building, development, modernisation, and human capacity and infrastructure development, said Fahmy. He described STELCO's service as invaluable and expressed pride in the company's historical contributions.
Fahmy also extended his gratitude to past and present employees of STELCO and the energy sector, acknowledging their dedication and invaluable service to the nation's development. Under President Dr Muizzu's leadership, the future of the country's energy sector looks very bright and promising, he asserted.
STELCO began providing electricity services to 50 households in Malé with a 14-kilowatt generator in 1949, initially operating as a government department. The department was rebranded and renamed STELCO in 1997. Today, STELCO serves over 80,973 customers and is active in corporate social responsibility, undertaking numerous initiatives to promote social responsibility.
The company believes its primary mandate is to further develop and enhance its utility services, ensuring customers receive the best services sustainably and affordably, it said. The administration aims to reduce fuel consumption and spending by transitioning to renewable energy sources, with numerous projects underway across the country to establish renewable energy generation systems.