April 2 (Renewables Now) - Minesto AB has secured all needed approvals to install two DG100 tidal kite power generating systems in the Faroe Islands, the Swedish marine energy developer said on Wednesday.
The tidal kites will be installed in the Vestmannasund strait in a collaboration between Minesto and the Faroese electric utility SEV. The latter in November 2018 committed to buy power from the two 100-kW units that will be hooked to the local power network.
The deployment of the two tidal kite power units is part of a broader cooperation between Minesto and SEV under which the partners will seek to add between 30 MW and 70 MW of installed capacity to the local grid. SEV already signed a power purchase agreement (PPA) with Minesto for 2.2 MW that includes power from the two DG100 units and from utility-scale arrays.
Minesto is developing its DG100 marine energy converter technology and the Vestmannasund project with EUR 3.5 million (USD 3.8m) of public funding from the European Union (EU) and the Swedish Energy Agency. The company recently set up a Faroese subsidiary to ease its work on future installations on the archipelago.
(EUR 1.0 = USD 1.095)