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The €14.9m (£13.2m) European Regional Development Fund was awarded to Minesto through the Welsh government. The money will help support the Swedish company’s development in Wales, where it has installed a 0.5MW system in the Holyhead Deep tidal stream.
“This is a key contribution to the commercialisation of our technology and a strong sign of commitment from the Welsh government,” said Minesto CEO Dr Martin Edlund. “We are pleased to see that we share an agenda to industrialise tidal energy in Wales, to enable large-scale local clean energy production from Welsh tidal streams. By doing so we will enable long-term industrial development in North Wales.”
The company hopes to secure permits and consent for expanding the Holyhead Deep site into an 80MW tidal energy farm with the investment. Before that, it is aiming to install and operate a more powerful unit, at least 50% higher than the installed 0.5MW.
Other intended uses for the money include development and operations at Holyhead Deep, design of subsea infrastructure for the 80MW upgrade, improved manufacturing and assembling capacity and “enhancing” the utility-scale device range.
Counsel general and Brexit minister Jeremy Miles, who is responsible for overseeing European funds in Wales, said: “Generating energy from renewable sources is not only vital in creating a low-carbon economy and contributing to the global challenge of climate change, it also provides Wales with a real opportunity to be at the forefront of a major emerging industry.”
Minesto’s Deep Green turbine is just one of many tidal energy technologies under development. Other examples include floating turbines, wind energy-like horizontal-axis turbines and Venturi effect devices.
Dr Edlund previously told Professional Engineering that an opportunity for the UK to become a global leader in tidal energy could “slip through our fingers” if the UK government fails to back the technology.
Previous European Regional Development Fund investments totalling €18.5m make Minesto and its Deep Green technology the EU’s largest investment in marine energy.
Content published by Professional Engineering does not necessarily represent the views of the Institution of Mechanical Engineers.