State Electric Company Limited (STELCO) has revealed that 70% of the mega power development project has been completed.
A 2,400 metric tonne oil farm will be developed in Hulhumale' as part of the project. STELCO aims to station the first generator by July of this year and plans commence electricity service from the 8.9 megawatt generator by August of this year.
The Fifth Power Development Project will guarantee electricity coverage for the next 10 to 20 years. Furthermore, STELCO would be able to provide 50 megawatts of electricity with ease, in turn resolving the electricity shortage faced in Male' and Hulhumale' upon completion of the project.
The Fifth Power Development Project, which is the largest power project implemented in the Maldives, is designed to install six 8.9 megawatt diesel power generators. The development of the project by STELCO is conducted with the assistance of China's Dongfang Electric Corporation and is funded by a loan arranged from the Exim Bank of China.