Maldives Vice President Faisal Naseem on Tuesday, 21 December, stressed on the need to adopt new technologies to reduce fossil fuel dependency.
He made the remarks while speaking at the ceremony held to mark the 73rd anniversary of initiating electricity as a utility service in the Maldives. According to Maldives Vice President, electricity has become essential for daily livelihood, and noted the instabilities facing international markets due to Covid-19 pandemic and the Russia-Ukraine war, which resulted in price bumps on fuel, increasing consumer woes.
At the ceremony, he praised State Electric Company (STELCO) for investing in renewable energy sources and adapting to changes in global fuel prices. While speaking about STELCO’s numerous renewable energy projects, Vice President emphasized on the importance of expanding the efforts.
Naseem also spoke about the history of electricity services in the Maldives, adding praise to STELCO for carrying out projects through its Corporate Social Responsibility (CSR) program, positively contributing the society.
He also spoke about the efforts by current administration for the energy sector’s development. As per Naseem, the quality of electricity service provided has been “one of the major concerns of the people when the administration took office in 2018”. He also added that the administration addressed the concerns through combined efforts of Fenaka Corporation and STELCO.
The current administration has been responsible for developing over 100 powerhouses across the Maldives while over 300 power generators were dispatched to local islands.
Maldives observed introduction of electricity services first on 20 December 1949. Initially run by the state, the service eventually evolved culminating in the formation of STELCO in 1997.