Energy / Maldives
“Our main challenge is meeting a rising demand.”
Leading power utility State Electric Company (STELCO) services 60 percent of the Maldives’ population. Managing Director Abdul Shakoor unveils his plans on how to meet this growing demand.
What are operations like today?
STELCO services 32 islands, including the most concentrated Malé and Greater Malé areas. The electrification growth rate here is about 9 percent, and our main challenge is meeting rising demand.
How can Chinese investment respond to these concerns?
We are building a new power station on Thilafushi to produce up to 200 MW, and the main focus now is on obtaining Chinese financing. We have already signed a Memorandum of Understanding with Sinohydro, the project should be done over the next five years. We want to go into solar energy and welcome more Chinese investment. There are very small islands with up to 40 KW demand. With solar energy, the whole island can be powered for about $150,000.
Where do renewables lie in STELCO’s future?
We have equipped most of Malé’s schools and government buildings with solar panels, which together produce approximately 1MW, and are collaborating with Japan International Cooperation Agency on similar efforts.
How is STELCO supporting the five mega projects?
We are going to be electrifying the whole of Hulhumalé, where the “Youth City” will be established. Thilafushi offers a lot of land. The government’s plan to turn it into a transshipment hub makes it an ideal location for a central power station.
