Minesto Partners to Develop Tidal Power in Maldives
The Swedish developer aims to reduce fossil fuel reliance through new tidal kite technology projects in the region.
Updated on Oct. 26, 2026 in Energy
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Minesto has signed a memorandum of understanding with Morteza Capital to explore tidal energy development in the Maldives. This initiative, supported by funding from the Nordic Project Fund, represents the company's latest effort to expand its renewable technology into international markets.
Why it matters
The Maldives is seeking to reduce its reliance on imported fossil fuels, and this partnership aims to assess whether Minesto's tidal technology can provide a viable, localized power alternative.
The collaboration leverages Minesto's proprietary tidal kite technology, which functions by moving a subsea turbine in a figure-eight pattern to maximize energy extraction, compared to the fixed-position turbines of traditional tidal systems.
The players
Minesto
A Swedish marine energy developer specializing in kite-based tidal power generation systems.
Morteza Capital
A firm providing regional market expertise and project development services in the Maldives.
Nordic Project Fund
A financial institution providing capital for sustainable market development activities.
The details
Minesto provides the technical expertise and hardware, while Morteza Capital offers regional market knowledge to identify suitable deployment sites. The company's technology utilizes a hydrodynamic wing to sweep a turbine through the water column, a process that aims to amplify flow speed relative to the physical velocity of the tide. The partnership is currently in the planning stage, with developers assessing environmental and geographic factors across the archipelago.
Timeline
October 26, 2026: Official announcement of the Maldives partnership.
The Tech Race
This project fits into a broader push by Minesto to scale its technology following previous expansion efforts in Chile. It underscores a strategic move to secure footholds in island nations that face significant challenges regarding fuel imports.
The partnership is in the early planning stages, meaning no immediate changes to local power grids or electricity rates are expected. Residents should monitor future project milestones for updates on pilot site selections.
The takeaway
The move suggests Minesto is prioritizing markets with high dependencies on imported fuel to demonstrate the scalability of its tidal kite technology. Watch for future disclosures regarding site-specific capacity benchmarks or project timelines.
Further reading
Learn more about the latest developments in marine power at the Energy section.
Live Poll
Do you support prioritizing tidal energy projects to help island nations reduce reliance on imported fuels?
