Minesto and SEV’s joint tidal energy demonstration project in Vestmannasund, Faroe Islands, is moving forward with the installation work at full speed to connect Minesto’s DG100 kite system to the electricity grid.
Earlier Minesto completed the first offshore installation phase of the project, when the gravity-based foundation for the power plant was installed at the site.
In 2018, Minesto signed an agreement with SEV to install two DG100 units in Vestmannasund. The agreement also included a power purchase agreement through which SEV committed to purchase the electricity generated by the tidal energy converters.
“The team is doing a terrific job and we are really looking forward to the big milestone that lies ahead of us in generating electricity to the Faroese grid with our unique Deep Green technology.”Dr Martin Edlund, CEO of Minesto.
Minesto secured public funding totaling approximately €3.5 million through the EU’s EIC Accelerator and the Swedish Energy Agency for the implementation of the Vestmannasund project and the development of the DG100 marine energy converter.