The Swedish Energy Agency has granted the tide developer Minesto a grant to help the ongoing commercialization of the later Deep Green technology.
Skr5.8 million (€ 572,000) finances co-financing of a project through which Minesto will develop and verify a next generation tether system to facilitate the commercial scaling of the technology to 3MW and beyond.
The tether system connects Minesto’s marine energy power plant to the seabed foundation and consists of the tether rope and cables for communication and power.
It is a subsystem of Minesto’s Deep Green technology with a major impact on the leveled energy cost, the company said.
Minesto’s CEO Martin Edlund said: “We are very pleased that the Swedish Energy Agency continues and expands its support for Minesto.
“This investment helps strengthen our product’s competitiveness.”
Minesto’s Chief Technology Officer Bernt Erik Westre said: “We know that there is significant potential to improve the functionality and performance of the tether system and reduce its complexity.
“This is related to areas such as hydrodynamic properties, dynamic loads and low-loss power transmission.”
Edlund added: “This initiative is an integral part of scaling up both the size of individual power plants and production volumes in number.
“There are major synergies with our existing projects and the ongoing procurement and production of the new Dragon Class power plants.”
The Swedish Energy Agency’s Pierre-Jean Rigole said: “Tidal power is expected to be part of the future electricity mix and can contribute to energy conversion in many countries.
“It is a predictable energy resource that can reduce the need for energy storage for other forms of renewable energy.
“Minesto and other Swedish developers of marine energy technology are leaders in the field, which makes it an industry with export potential for Sweden.”