STELCO launches research on wave energy production

State-owned State Electric Company Limited (STELCO) has launched a research project on wave energy production under the name ‘Wave Monitoring Project’.

As part of this research, STELCO will deploy wave monitoring technology to assess how wave energy could complement existing renewable sources, creating a more resilient and reliable energy grid.

STELCO’s Managing Director Hussain Fahmy said the project marks a significant step forward in Maldives’ pursuit of sustainable energy solutions to achieve President Dr. Mohamed Muizzu’s goal to transform 33 percent Maldives’ energy production to renewable sources.

“By exploring wave energy, Stelco is pushing the boundaries of renewable energy beyond traditional solar, opening up a new frontier for sustainable development,” he added.

“Stelco Launches Wave Monitoring Project to Propel Maldives Toward President Dr. Muizzu’s 33% Renewable Energy Goal, Expanding Sustainable Power Beyond Solar Sources”

Stelco’s recent initiative to deploy wave monitoring technology marks a significant step forward in the… pic.twitter.com/9a7udxdhoH

— Hussain Fahmy (@HussainFahmy09) November 9, 2024

Fahmy detailed that the project will involve rigorous data collection and analysis to understand the potential of ocean waves as a viable energy source for the nation.

He stressed that wave energy offers several advantages, including a more consistent energy supply, as ocean waves are less affected by weather conditions than solar power.

“This endeavor underscores Stelco’s commitment to innovation and aligns with the Maldives’ vision for a cleaner, more sustainable future, supporting the nation in reaching its ambitious renewable energy goals,” he added.

Prior to this, the governor of central bank, Maldives Monetary Authority (MMA) has said USD 1.3 billion is required by the Maldives to produce 33 percent of its energy production from renewable sources of which only 13 percent has been secured so far.