Minesto bags EUR 13 mln from EU for Deep Green tidal

The European Regional Development Fund has awarded EUR 13 mln to Minesto through the Welsh Government for the commercial roll out of Deep Green tidal power plant.

The funding will be used to establish Minesto UK headquarters in North Wales, and for the installation of the first commercial scale 500 kW Deep Green tidal power plant.

Deep Green power plant will be located in Holyhead Deep, off Holyhead Island in Wales.

Minesto plans to continue with additional deployments in what will eventually be an array with a total capacity of 10 MW, expected to be operational in 2019 and power 8.000 households, Minesto’s press release reads.

Anders Jansson, CEO of Minesto, said: “Establishing Minesto UK Headquarters in North Wales is a strategic decision that will help make Wales a global leader in the marine energy sector. In the short term, around 30 direct jobs will be created, followed by hundreds more in the long term in areas like manufacturing, offshore operations and new project development.

“Today’s announcement represents an important step into the full commercialisation of marine energy in Wales.”

In July 2014, Minesto was awarded an Agreement for Lease for a commercial demonstration site for electricity production from tidal current off Holyhead Island.

The area meets all of the physical requirements, providing low-flow tidal velocities (1.5 m/s – 2 m/s mean peak flow) at a depth of 80-100 meters, just a short distance from the shore, while also being in close proximity to the Holyhead Port.

Carwyn Jones, First Minister of Wales, said: “I am delighted that this EU funds investment has helped pave the way for Minesto to set up its UK headquarters in North Wales which will create high quality jobs in what is a rapidly expanding and important sector for Wales.”

Minesto, a Swedish based company, has developed a new concept for tidal power plants called Deep Green. Deep Green looks like an underwater kite which produces electricity when the water current creates a hydrodynamic lift force on the wing which pushes the kite forward.

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Image: Minesto