STELCO is Vital in Maldives' Future, Says Environment Minister

During STELCO Powerhouse Mangers Program 2022 on Sunday, Environment Minister Aminath Shauna has stated that one of the Maldives' top targets is achieving zero emission by 2030. And for that to happen, State Electric Company (STELCO)’s support is crucial.

As the Maldives is rapidly evolving and improving, STELCO must also keep up and become a company that generates renewable energy. She believes the company is more than capable and talented enough to become a powerhouse that provides renewable energy services, especially with its vast amount of technical expertise.

Even now, with some islands having some parts run by solar energy, the government is more than willing to invest more into it in order to achieve the net-zero target.

Minister Shauna relayed that the government would like to establish the infrastructure necessary to achieve the target and roll out the change in a well-planned manner, with support from STELCO.

Currently, the Maldives spends USD 400 million per year to import fuel, and seeing as how the price of fuel was rising with the Russia-Ukraine conflict, turning towards renewable energy is becoming an increasingly urgent matter.

‘If our spending on fuel increases – that’s money for some other development project. We will have to spend that money to purchase fuel. The Maldives is a country which can use renewable energy,” she said.

The Maldives is a country that gets sunlight for almost 12 hours each day, and with how solar energy prices are dropping, Minister Shauna says that the Maldives is more than capable of using renewable energy. She has stressed the need to make the change.

She also went on to highlight Fenaka's 'home solar' program and said that the government is ready to support STELCO in launching a similar program.