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January 13, 2023

Tidal Energy Firm Minesto Tapped for Site Development Services in Asia



Tidal energy technology company Minesto said Friday it had received its first historic sales order for site development services,.

The order includes Minesto's Dragon Class tidal energy powerplants and comes from an unnamed "major corporation in the  Asian offshore energy sector."

"Minesto has been contracted to support a leading Asian corporation in the offshore energy sector for the evaluation of a tidal-current site targeting the deployment of Minesto Dragon Class tidal energy powerplants. The work is planned to be completed in the first quarter of 2023 and has an initial order value of EUR 35 000," Minesto said.

Minesto will assist the company with site identification and evaluation based on its hands-on experience from existing sites in Wales, U.K., and the  Faroe Islands.

 "Given the unique production site characteristics of our technology, it is vital that we now offer these services to third-party project developers, in addition to our own ongoing site development activities,” says Dr Martin Edlund, CEO of Minesto.

Site development is the initial step for the offshore energy sector to enter the ocean renewable value chain. Offshore operators also bring complementary strengths to Minesto with their established marine operations and experience in large energy infrastructure projects, Minesto said.

"It is most valuable for us that site identification and feasibility services engage independent project investors and energy project developers. Willingness to procure site identification and assessment is key to our product sales and large-scale build-out. A milestone has been reached in the Asian market,” Edlund said.

How does Minesto technology work?©Minesto

Minesto’s Deep Green technology generates electricity from low-flow tidal streams and ocean currents using a unique and patented principle similar to a stunt kite flying in the wind.

The wing uses the hydrodynamic lift force created by the underwater current to move the kite. With an onboard control system and rudders, the kite is autonomously steered in a predetermined figure eight, pushing the turbine through the water. By doing so, the turbine experiences a water flow several times higher than the actual stream speed.

The turbine diffuses power to the generator, which outputs electricity via the power cable in the tether. The seabed umbilical transfers the electricity to the onshore connection.

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