STELCO selected as Public Enterprise of the Year

State Electric Company (STELCO) has been awarded Public Enterprise of the Year.

The company received the award at the Maldives Business Awards 2019 held at The Marina, Crossroads Maldives.

It marked the first time for STELCO to receive an award at the Maldives Business Awards.

Maldives Business Awards 2019 saw awards to the best performing businesses in 29 categories in five fields.

STELCO celebrated its 70th anniversary this year. The company’s MD Hassan Mughnee recently announced in a TV interview that the company’s workforce is now composed solely of local talents.

He has also announced the company’s goal to achieve a complete switch to renewable energy sources through a gradual process. The company is currently engaged in research towards this goal.

It held a workshop in October in which it engaged in discussions regarding benefits of switching to renewable energy sources, challenges in achieving a full conversion, and the resources needed for the project.