Marine energy developer Minesto has signed a PPA with Faroe Islands utility SEV to integrate tidal power into the islands’ electricity mix.
The PPA covers the planned installations of two 100kW ‘subsea kite’ systems in the Vestmannasund strait and an additional 2MW capacity allocated for future installations of utility-scale tidal energy systems.
The long-term ambition is the large-scale deployment of tidal energy, with potentially as much as 70MW of new capacity to be installed – this would help the Faroe Islands reach their goal of sourcing all of their power from renewable energy sources by 2030, including transport and heating.
Dr Martin Edlund, CEO of Minesto said: “We are pleased to advance our collaboration with SEV. In the Faroe Islands, we are part of one of the most ambitious energy transition schemes in the world.
“It is an ideal context to show how ocean energy from our unique technology complements solar and wind power to create a sustainable energy system.”