STELCO is equipped with the most modern and efficient diesel power generation plants in Male'. In 1949 STELCO started providing electricity with just one 14kW generator set. Since then, the generation capacity has been increased to match with the growing demand through various projects. The most recent project was the Fourth Power Development Project under which, 16MW of generation capacity was added to the Male' power grid. This project was the largest power project conducted in Maldives and cost 28 million EUROS.