New ‘Floating Solar’ Product to be Released Soon: STELCO MD

Hassan Mughnee, the Managing Director of STELCO, has announced that the company will be releasing a new line of ‘floating solar’ products soon.

During an interview with local media RaajjeTV yesterday, Mughnee stated that most of the work to invent the new product was complete, and that it was ready to be released to the market.

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Mughnee added that the new product was superior and more durable than the company’s previous product, but the proposed sale price was higher than they had wanted. He stated that in time, however, the company will find ways to lower the price.

He said the new product was designed to allow one panel to be linked to the other.

Mughnee also iterated that STELCO’s aim was not to profit from powerhouses in islands, but rather to provide a high quality of services in the islands as that which is offered in Male’ City.

“Previously, there was about a 30 percent variance between the islands we provided services to and Male’,” he said. “We have reduced the variance to around 10 percent now. We will, by God’s grace, reduce the variance to below 6 percent by the end of this year.”

Mughnee said that work on around six powerhouses will be completed before the end of the first quarter of this year.

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