Minesto’s 200kW tidal energy site in Vestmannasund, Faroe Islands, could be expanded to a 4MW commercial array, a site extension analysis has concluded, with the marine energy developer recently signing a two-year extension of its Power Purchase Agreement (PPA) with electric utility company SEV for the site.
The PPA with SEV was first signed in February 2020 and comprises up to 2.2MW installed capacity of Minesto’s ocean energy technology in the Faroe Islands. The first phase of collaboration between Minesto and SEV, to integrate tidal energy through Minesto’s Deep Green technology in the Faroe Islands, has focused on an EU-funded project where two grid-connected DG100 systems have been installed and operated in the Vestmannasund strait.
As part of the final delivery of that project, a site extension analysis concludes that the Vestmannasund site has merits for a commercially viable smaller array of up to 4 MW.
“In addition to the proposed larger 10+20 MW site in Hestfjord, where we have completed site measurements and work to optimise array design configuration, the same analysis of the Vestmannasund site shows more favourable conditions for upscaling than previously known. This strengthens our project portfolio with another commercial opportunity for an early – or even first – array build out of Minesto Deep Green systems. Combining that opportunity with the current DG100 site in Vestmannasund is a very compelling path forward to drive down cost of energy for our unique product”, said Dr Martin Edlund, CEO of Minesto.
“We are pleased to hear about the progress in Vestmannasund over the last year and are looking forward to continuing our collaboration with Minesto to unlock the predictable power of tidal currents,” added Hákun Djurhuus, CEO at SEV.