Swedish ocean energy developer Minesto has been selected to participate in the Swedish government-backed initiative Sweden-Indonesia Sustainability Partnership (SISP) to accelerate tidal energy development in Indonesia.
SISP brings together Swedish companies and Indonesian stakeholders to accelerate the adoption of sustainable technologies and solutions.
Within the partnership's Sustainable Energy Programme, Minesto will collaborate with Business Sweden to develop commercial opportunities for its tidal energy technology, including identifying strategic partners, facilitating access to financing and advancing project development.
According to Minesto, Indonesia offers significant potential for tidal energy generation as its extensive network of islands and straits creates favorable conditions for harnessing tidal currents, with the country's total ocean energy potential estimated at approximately 60 GW.
"Indonesia represents one of the largest global markets for our technology. The country's extensive tidal resources, combined with its growing demand for reliable renewable electricity, create significant opportunities. Being a part of the Sweden–Indonesia Sustainability Partnership strengthens our ability to turn this potential into commercial projects, working alongside Business Sweden and key Indonesian stakeholders," said Martin Edlund, CEO of Minesto.
This builds on Minesto's ongoing business development in Indonesia. One of the opportunities is a tidal energy project at Nusa Penida, southeast of Bali, where Minesto is involved in feasibility assessments together with local partners.
Through the collaboration with Business Sweden, Minesto said it would further strengthen local partnerships to advance project development.
"Indonesia has significant untapped potential in ocean and hydropower resources, which can play an important role in diversifying the country’s renewable energy mix," said Johan Lennefalk, Acting Country Manager Indonesia at Business Sweden.
"Minesto’s technology offers a particularly promising solution by harnessing tidal currents that have previously been difficult to utilise, providing predictable renewable electricity that complements other hydropower and ocean energy solutions. We look forward to continuing to work with Minesto and other companies to contribute to Indonesia achieving its net-zero emission target by 2060.”
Worth noting, Minesto recently signed a memorandum of understanding (MoU) with Chilean energy project developer Trayen Power to work together on the development of tidal and ocean current energy projects in Chile.
Furthermore, the European Commission selected the Swedish ocean energy developer for a €20.2 million Innovation Fund grant for the company's planned 10 MW tidal kite array in Ireland.