Stelco Introduces New Special Scheme to Purchase Solar Panels

Stelco has introduced a new special scheme for its staff under Stelco’s green life initiative, to purchase solar panels. At the moment this scheme is available only for employees working in Greater Male’.

Managing Director of Stelco Hassan Mughnee has stated that even though in its first phase it is only available for employees in Male’, they will be making this scheme available for other employees in different parts of the country. He also highlighted that the prices of panels will same on each island and electricity bills are expected with the use of the solar panels.

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Stelco is selling solar panels for MVR 30,000, and under the scheme, employees can pay in installments. Stelco is offering three packages for the installment, one is to pay MVR 881 per month and pay the whole cost in just three years. The second package is to pay the full amount in five years by paying MVR 704 per month. The third package is to pay in seven years by paying MVR 485 per month. With any of these packages, employees have to pay a downpayment of MVR 5000.

Stelco has stated that the main aim of selling solar panels under this scheme is to minimize the cost of producing electricity and also to reduce electricity bills.

Stelco will start installing the solar panel as soon as the downpayment is made and any work related to the installment of the solar panel will be done by the company.

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