A Pioneering Force in the Maldivian Energy Sector
State Electric Company Limited (STELCO) was established to address the rising energy needs of the Maldives. Headquartered in Malé, the company has grown into a key energy provider, delivering reliable electricity across the islands and supporting the country’s tourism industry. Over the years, STELCO has evolved beyond conventional power generation, embracing cutting-edge strategies to advance national sustainability goals, integrate renewable energy solutions, and uphold environmental responsibility.
Powering the Nation With an Expansive Grid Network
STELCO operates the largest power grid in the Maldives, serving over 60,000 customers across the capital and surrounding atolls. With a workforce of over 1,500 employees, including the highest number of engineers in the country, the company ensures uninterrupted energy services through technical expertise and continuous innovation. In addition to traditional energy production, STELCO has established itself as the leading provider of sustainable energy in the nation, leveraging renewable technologies to reduce reliance on fossil fuels.
Leading the Transition to Renewable Energy
As part of its commitment to sustainability, STELCO has implemented advanced energy solutions, including Solar PV Systems, Battery Energy Storage Systems (BESS), and an Energy Management System (EMS). These initiatives optimize energy efficiency and pave the way for cleaner, more sustainable power generation. The company aims to generate 33% of its total energy mix from renewable sources by 2028, aligning with the Maldives’ broader goals for a greener future.
Advancing Electric Transportation and Smart Energy Solutions
STELCO has embraced emerging trends in clean energy and electric mobility. The company has introduced electric motorcycles and electric vehicle (EV) charging infrastructure, expanding its portfolio to include solar panels and advanced power systems. This diversification strengthens STELCO’s market leadership while promoting eco-friendly transportation in the Maldives. The company’s business strategy seamlessly integrates sustainability with financial growth, ensuring long-term value creation.
Transforming Customer Experience Through Digital Innovation
STELCO has modernized its business center, offering a showroom-style experience where customers can explore solar panels, EV systems, and other energy solutions. The introduction of Advanced Metering Infrastructure (AMI) allows real-time monitoring of energy consumption through a customer portal or mobile app, empowering consumers to manage usage and expenses efficiently. Additionally, STELCO’s Supervisory Control and Data Acquisition (SCADA) system enables real-time fault detection across its powerhouses, ensuring service reliability despite the logistical challenges of operating across dispersed islands.
Investing in Talent and Workplace Excellence
STELCO prioritizes employee development through its STELCO Knowledge Hub, fostering a culture of continuous learning and professional growth. The company offers competitive salaries, career advancement programs, mentorship, and leadership training to attract and retain top talent. With a commitment to gender equality, STELCO has also introduced initiatives to support female employees, expanding opportunities within the organization.
Strengthening Strategic Partnerships for Industry Advancement
Collaboration is a key driver of STELCO’s innovation. The company actively partners with local government, startups, and NGOs to stay at the forefront of industry trends and community initiatives. Notably, STELCO has launched renewable energy-powered EV charging stations in the Greater Malé region, supporting sustainable transportation solutions. Additionally, the company is exploring alternative energy sources, including wave energy and micro wind technologies, which have the potential to reshape the Maldivian energy landscape.
Ensuring Financial Stability and Operational Excellence
STELCO’s sound financial management and operational efficiency reinforce its reputation as a stable and trustworthy energy provider. The company has consistently met all financial commitments without defaults, demonstrating resilience and strong governance. This combination of financial prudence, technical expertise, and sustainability-driven innovation positions STELCO as a leader in the Maldivian energy sector, continuously adapting to the industry’s evolving demands.
