Minesto, leading ocean energy developer, has signed a Memorandum of Understanding (MOU) with Morteza Capital, an investment manager and project developer with a strong regional network.

The collaboration aims to develop commercial tidal energy opportunities in the Maldives, where Minesto’s unique Dragon technology has the potential to contribute to the country’s challenging renewable energy transition while preserving its unique natural environment.

The Maldives faces significant challenges in transitioning towards renewable energy. Its geographically dispersed islands rely heavily on imported diesel for electricity generation, resulting in high energy costs and carbon emissions. At the same time, tourism is a cornerstone of the country’s economy, placing particular importance on developing renewable energy solutions that preserve its pristine natural environment and scenic landscapes.

Minesto’s Dragon technology offers a promising solution to these challenges.…