ACES Award Presented to STELCO as Champions of 2024
State Electric Company Limited (STELCO) has been honoured with the ACES Award for Industry Champions of the Year 2024, recognising the company’s outstanding commitment to innovation, sustainability, and operational excellence.
The award highlights STELCO’s leadership in driving renewable energy solutions, such as solar photovoltaic systems and Battery Energy Storage Systems (BESS), as well as its advancements in electric transportation and customer service.
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Industry Champions of the Year 2024
State Electric Company Limited (STELCO), the primary energy provider for the Maldives, has been recognised as the Industry Champions of the Year for 2024.
Headquartered in Malé, STELCO serves over 60,000 customers across the Maldives islands and tourism sector. Over the years, STELCO has shifted from a traditional power supplier to an innovative leader in the energy sector, focusing on sustainability and renewable energy integration.
STELCO operates the largest power grid in the Maldives, utilising advanced technologies such as Solar PV Systems, Battery Energy Storage Systems (BESS), and Energy Management Systems (EMS) to improve operational efficiency and reduce reliance on fossil fuels.
The company has positioned itself as the largest provider of sustainable energy in the country and aims to generate 33% of its energy from renewable sources by 2028.
STELCO has also embraced emerging trends such as electric transportation, introducing electric motorcycles and EV charging infrastructure. The company’s customer engagement has been enhanced through a modernized business centre and the introduction of Advanced Metering Infrastructure (AMI), which allows customers to monitor their energy consumption in real-time.
STELCO’s commitment to sustainability is further evidenced by its strategic partnerships, which include collaborations with local governments and NGOs to drive the adoption of renewable energy solutions.
HUSSAIN FAHMY; Asia’s Most Inspiring Executives 2024
Hussain Fahmy, the Managing Director of State Electric Company Limited (STELCO), has been named one of Asia’s Most Inspiring Executives for 2024.
Fahmy has been with STELCO since 1998, and under his leadership, the company has made significant strides in renewable energy and operational efficiency. His career has been characterised by a focus on strategic business management, employee welfare, and innovation.
Fahmy has championed the integration of solar photovoltaic systems and Battery Energy Storage Systems (BESS), reducing STELCO’s reliance on fossil fuels. He has also introduced electric vehicles and charging infrastructure as part of the company’s commitment to a cleaner energy future.
Fahmy’s leadership has also extended to improving employee welfare, such as completing the STELCO Housing Project, which provided 360 apartments to staff.
In addition to operational improvements, Fahmy has spearheaded technological advancements, including creating the STELCO Research Foundation to explore new energy solutions. His strategic partnerships with startups and academic institutions have fostered a culture of innovation at STELCO, aligning its goals with national sustainability targets and ensuring its continued success in the energy sector.
