The US Department of Energy estimates that wave energy could contribute 1,170 terawatt-hours annually to the national grid, while tidal energy could add 220 terawatt-hours per year. The country has been developing marine energy infrastructure since 2010, including the PacWave South test facility off the Oregon coast, which launched this summer.
The Swedish startup Minesto is developing Dragon Class tidal energy devices that function as underwater kites. These systems are designed to capture energy from low-flow currents. Minesto currently operates projects in the Faroe Islands, Wales, and Taiwan, focusing on locations where traditional renewable energy installations face aesthetic or space constraints.
Minesto recently signed a Memorandum of Understanding with the UK-based Morteza Capital to deploy clean energy solutions in the Maldives. The project is supported by the Nopef economic development fund, which is backed by several Nordic and regional governments. The Maldives aims to reduce its reliance on imported diesel fuel for electricity generation.
