Managing Director of State Electric Company Limited (STELCO) Hassan Mughnee has stated the future aim is to generate power from the ocean and lagoons.
Speaking at the celebration of STELCO’s 70th anniversary Mughnee spoke about the role played by the company in the development of the country, noting STELCO is an important stakeholder in the progress of the nation. He stated the company comprises of 100% Maldivian staff, adding the company’s aim is to work for the benefit of the nation and its people.
Noting the impact of climate change on Maldives, the CEO spoke about the importance of harvesting renewable energy in the country. Speaking in this regard, he noted STELCO is currently in efforts to generate power through solar energy under its Green Life Initiative. He further stated the long-term goal of the company is to generate power from oceans and lagoons, through the utilisation of wave and tidal energy.
Speaking further, CEO Mughunee also expressed the current target of the company is to become a complete engineering company within a brief timeframe. Reassuring STELCO’s commitment to continue providing power supply services without interruption, Mughunee said the company has taken major steps to extend its scope as a utility company by commencing water supply and sewerage services as well. He said the company aims to increase its financial capability instead of solely relying on electricity bills for revenue.
During the ceremony held to celebrate the 70th anniversary of STELCO, President Ibrahim Mohamed Solih officially launched the company’s Green life Initiative to generate electricity using renewable resources. In addition, the president also launched a book published by STELCO on the occasion of its 70th anniversary and distributed lifetime achievement awards to 3 long-serving staff members of the company.