#Sweden #Minesto #tidal energy #Hestfjord #Torshavn

Promoting Tidal Energy: Minesto's Initiative in the Faroe Islands

On February 3rd, ocean energy developer Minesto held a significant seminar at the Nordic House in Torshavn, Faroe Islands, bringing together a wide array of stakeholders, including local authorities, businesses, and the general public. This event marked a crucial step in advancing Minesto's vision for renewable energy and fostering strong community engagement regarding its first tidal energy project, known as the Dragon farm, located in Hestfjord.

A Vision for Sustainable Energy

During the seminar, attended by key figures such as Martin Edlund, CEO of Minesto, and Hákun Djurhuus, CEO of Faroese utility company Sev, the emphasis was placed on the potential of tidal energy to transform the energy landscape of the Faroe Islands. Edlund presented a comprehensive roadmap for a 200MW buildout aimed at achieving a sustainable energy system. The discussions highlighted the collaboration between Minesto and Sev, particularly in how tidal energy can contribute to the goal of 100% renewable electricity generation.

“I genuinely believe that the Faroe Islands present an ideal site for our first Dragon farm due to their exceptional tidal stream resources and our strong local partnerships,” Edlund stated. His comments underscored the strategic decision to initiate operations in the Faroe Islands, propelled by robust political support and a determined partnership with Sev.

Collaborative Efforts for Change

Djurhuus echoed Edlund’s sentiments, emphasizing the collaboration's value in pioneering tidal energy solutions. “Tidal power’s predictability positions it as a crucial enabler in realizing our target of sustainable electricity generation,” he explained. The partnership aims not only to reduce the financial burdens of these projects but also to ensure a reliable supply of power during the transition to renewable energy.

Infrastructure and Investment

Throughout the presentation, Edlund articulated the necessity of local engagement in order to facilitate the development of the Hestfjord Dragon farm, which will be the world’s first tidal energy array. Collaborative efforts are ongoing with Sev and the local community to navigate the logistical challenges related to infrastructure and vital permitting processes. Minesto is encouraged by the interest shown by local investors and stakeholders who wish to be part of this groundbreaking journey.

The arrangement between Minesto and Sev is formalized in a collaboration agreement that establishes Sev’s commitment to providing essential onshore grid infrastructure and purchasing the electricity generated by the tidal farm.

Future Prospects

As the seminar concluded, both Edlund and Djurhuus expressed optimism about moving forward with this innovative project. “We celebrate Minesto’s successful event at the Nordic House, and it is evident that there is a keen interest from various actors in the community,” said Djurhuus. “We’re excited about continuing our collaboration with Minesto to make this 10MW tidal Dragon farm in Hestfjord a reality.”

The integration of tidal energy in the Faroe Islands could serve as a compelling model for other regions committed to sustainable development and renewable resources. Minesto’s ongoing engagement with local stakeholders will be pivotal in ensuring the success and smooth implementation of this pioneering initiative.