State Electric Company Limited (STELCO) was established to provide reliable electricity services across the Maldives. As the nation’s primary energy provider, STELCO operates extensive infrastructure across multiple islands, serving over 60,000 customers. Headquartered in Malé, the company has become a key player in the energy sector by combining operational excellence with forward-thinking sustainability initiatives. STELCO’s mission goes beyond energy delivery, aiming to foster national development through technological advancements and innovative solutions that meet the demands of rapid urbanization and tourism growth.
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A Journey of Leadership and Growth
Hussain Fahmy, the Managing Director of STELCO, has dedicated his career to advancing the company’s mission. Having joined STELCO in 1998 as an Account Assistant Trainee, he worked his way up through roles in business development, procurement, and customer services. His academic background includes two master’s degrees—one in Accountancy from the University of Aberdeen and another in Business Administration from the University of East London. With over 26 years of experience in the energy sector, Fahmy’s leadership is defined by a combination of technical expertise and strategic business acumen.
Driving Operational Excellence and Employee Development
Fahmy has fully embraced STELCO’s founding principles, leading the company toward higher levels of productivity, efficiency, and sustainable growth. His leadership fosters collaboration, adaptability, and transparency, creating an inclusive workplace where diverse perspectives are encouraged. By promoting a customer-centric approach, he ensures employees align with the company’s strategic vision. Under his leadership, STELCO has built a culture of continuous learning, offering professional development opportunities to enhance employee engagement and drive innovation.
Championing Renewable Energy and Sustainability
Fahmy has played a key role in integrating renewable energy solutions into STELCO’s operations. He has championed the adoption of solar photovoltaic systems and Battery Energy Storage Systems (BESS) across the Maldives, reducing reliance on fossil fuels while promoting environmental sustainability. Additionally, recognizing the shift toward clean transportation, he introduced electric motorcycles and electric vehicle (EV) charging infrastructure, positioning STELCO as a leader in the regional energy transition.
Balancing Immediate Needs with Long-Term Growth
A strong advocate for financial sustainability, Fahmy emphasizes the importance of cash flow management to ensure smooth operations while strategically investing in future initiatives. Under his leadership, STELCO has introduced an Advanced Metering Infrastructure (AMI) and is developing a modern Business Center to showcase solar panels, electric vehicles, and other energy solutions. These efforts aim to enhance customer experience while positioning STELCO at the forefront of energy innovation.
Commitment to Employee Welfare
Beyond operational improvements, Fahmy is deeply committed to employee well-being. A defining achievement of his tenure is the STELCO Housing Project, which provided 360 apartments to employees. This initiative eliminated the need for conventional bank loans, reducing financial burdens on staff while aligning corporate goals with employee welfare. By prioritizing people-first initiatives, Fahmy has fostered a strong organizational culture, making STELCO a more cohesive and motivated enterprise.
Embracing Innovation and Technology
Innovation is a cornerstone of Fahmy’s leadership approach. He has initiated plans to integrate smart grid technologies, enabling real-time monitoring and improved energy management. Additionally, he spearheaded the establishment of the STELCO Research Foundation, dedicated to exploring new energy solutions and enhancing the company’s competitive edge. By forming strategic partnerships with startups and academic institutions, Fahmy continues to bring fresh perspectives and technological advancements into STELCO’s operations.
Aligning with National Energy Goals
Fahmy has aligned STELCO with the Maldives’ national objectives, particularly in renewable energy and sustainability. His strategic planning ensures that the company remains adaptable to evolving market conditions while maintaining a strong focus on growth. His leadership exemplifies a deep commitment to fostering an environment where innovation thrives, sustainability is prioritized, and operational excellence is achieved.
