Minesto wins govt grant to scale up tidal power technology

Swedish marine energy developer Minesto AB (FRA:7MN) has secured SEK 5.8 million (USD 669,500/EUR 571,700) in grant funding to back the commercialisation of its Deep Green tidal power generating technology.

The specific technology comes in the form of a kite-like device consisting of a wing carrying a turbine directly coupled to a generator in a nacelle, with rudders, struts and a tether that is connected to a bottom joint at the seabed foundation.

The company said on Friday that the fresh financing, provided by the Swedish Energy Agency, will enable it to develop a next-generation tether system to scale up the technology for use in 3-MW power plants and beyond. The system will have enhanced functionality and performance, offering improved hydrodynamic properties, dynamic loads and electricity transmission with low losses.

Minesto successfully commissioned its first commercial-scale system deploying the Deep Green technology in Holyhead Deep, Wales, in 2018. Earlier this month, it introduced the Dragon Class -- an upgraded design of the Deep Green technology that will be featured in all of its ongoing projects.

(SEK 1.0 = USD 0.115/EUR 0.099)

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