Minesto names new chairman

Swedish marine energy developer Minesto has elected Jonas Millqvist as its new chairman.

Millqvist will replace Bengt Adolfsson who has served as chairman for the last four years.

Bengt Adolfsson remains as board member of Minesto as the company’s largest shareholder.

Jonas Millqvist is senior underwriter at Denmark’s Export Credit Agency.

He became a member of Minesto’s board of directors in 2018.

He has experience in business development and finance in the renewable energy sphere, having worked eight years for global wind turbine manufacturer Vestas Wind Systems.

During his time with Vestas, Jonas led teams in treasury and structured finance, facilitating large-scale wind power projects through different financial solutions.

Minesto and its partner, electric utility SEV, are progressing their joint tidal energy demonstration project in Vestmannasund, Faroe Islands.

The project was slightly delayed this month due to a technical issue occurring during cable laying.

However, Minesto noted that the issue with the subsea cable does not relate to its DG100 tidal kite power plant.

Minesto has named its first DG100 tidal kite system “Havfrúgvin”.

The name Havfrúgvin, which means mermaid in Faroese, has a long-standing and rich history in the Faroe Islands, especially around the town Vestmanna.