#Sweden #Gothenburg #Iceland #Minesto #Haf-Afl

Minesto Partners with Haf-Afl for Iceland's Ocean Energy

Minesto, the leading developer in the ocean energy sector, has announced an exciting new partnership with Haf-Afl, an expert in ocean energy site development, to penetrate the Icelandic market. This strategic collaboration, formalized through a memorandum of understanding (MOU), is part of Minesto's ongoing strategy to establish itself in key markets through local partnerships.

Background on the Collaboration

Minesto has a history of forming alliances with local businesses to leverage their expertise and ensure effective market entry. Haf-Afl brings a wealth of experience in the identification and assessment of tidal energy resources within Iceland, an essential component for the planned deployment of Minesto’s innovative underwater energy generation technology.

Johannes Hüffmeier, Minesto's COO, expressed enthusiasm about the partnership, describing it as a “textbook example” of how collaboration can accelerate the development of their Dragon Farms, an initiative that aims to harness tidal energy effectively.

The Role of Haf-Afl

Haf-Afl, known for their extensive work in evaluating Iceland's tidal and marine energy landscapes, will focus on identifying suitable sites for energy generation and conducting feasibility studies. According to Eyvar Örn Geirsson, Managing Director of Haf-Afl, this collaboration opens the door for immediate development at targeted sites where significant tidal resources have been identified.

Economic Considerations

Iceland's current energy market is characterized by relatively low wholesale electricity prices, yet many remote areas still suffer from high production costs. These costs often coincide with rich tidal energy resources, creating an opportunity for meaningful economic impact. The partnership aims to not only facilitate lower energy costs but also to enable the development of more robust and diverse energy supply chains, ultimately reducing reliance on diesel generators in off-grid locations.

The anticipated expansion of demand for electricity requires an integrated approach to energy generation, one that includes technologies capable of delivering reliable and predictable power. Tidal energy serves this need perfectly, aligning its output with the existing hydropower and geothermal energy frameworks that dominate Iceland’s energy landscape.

Tidal Energy Benefits for Iceland

The collaboration between Minesto and Haf-Afl underscores the mutual recognition of the advantages tidal energy can bring to Icelandic energy needs:

• - Enhancing Energy Security: The integration of tidal energy can significantly bolster the resilience of Iceland's energy system.
• - Support for Remote Locations: By reducing dependence on diesel generators, tidal energy can offer cleaner, renewable options for remote communities.
• - Future Capacity Needs: The project can help address capacity bottlenecks expected as energy demands rise.
• - Predictable Renewable Power: Tidal energy can supply a stable complement to existing hydropower and geothermal resources, ensuring reliability in energy supply.
• - Minimal Environmental Impact: As a renewable energy source, tidal energy is characterized by its relatively low land use and visual impact compared to other forms of energy generation.

Conclusion

The partnership between Minesto and Haf-Afl represents a progressive step towards enhancing the renewable energy landscape in Iceland. Through their combined expertise, the two companies aim to stimulate local economic growth while addressing pressing energy needs, making a significant contribution to a sustainable future for Iceland's energy portfolio.

As the project unfolds, stakeholders will be keenly watching to see how these efforts translate into real-world impact and advancements in the utilization of ocean resources.

For more information on Haf-Afl and their initiatives, visit www.haf-afl.is.