US marine hydrokinetic developer Verdant Power has promoted chief financial officer John Banigan to the role of chief executive.
Banigan, who will remain CFO of the New York outfit, takes over from David Sharpless, who served as interim chief executive from 2013. Sharpless will continue to serve as a director.
“Verdant Power is well positioned for its global launch and I am grateful to the company for the opportunity to lead it at this exciting time,” said Bannigan.
Verdant Power developed a grid-connected tidal array in New York City’s East River adjacent to Roosevelt Island.
The company has plans to develop tidal projects in Ireland and UK, having setup a joint venture Verdant Isles, with Irish company Belleville Duggan Renewables.
Image: Tidal turbine (Verdant Power)
