Brief: Minesto Signs Agreement With SEV For Utility-Scale Tidal Energy Installations

Minesto AB

19/02/2020 12:23

Feb 19 (Reuters) - Minesto AB  MINEST.ST :
    * MINESTO SIGNS PPA WITH ELECTRIC UTILITY SEV FOR
UTILITY-SCALE
TIDAL ENERGY INSTALLATIONS
    * SIGNED A POWER PURCHASE AGREEMENT (PPA) WITH FAROESE
ELECTRIC
UTILITY COMPANY SEV
    * LONG-TERM AMBITION IS A LARGE-SCALE BUILD OUT OF TIDAL
ENERGY,
ESTIMATED TO APPROXIMATELY 30-70MW INSTALLED CAPACITY, AS A CORE
ENERGY SOURCE IN FAROE GRID MIX
    * SIGNED PPA COMPRISE A TOTAL INSTALLED CAPACITY OF UP TO
2.2MW
    * SIGNED PPA COVERS BOTH INITIAL INSTALLATIONS IN
VESTMANNASUND AS
WELL AS NEXT PHASE OF COLLABORATION BETWEEN MINESTO AND SEV,
WHICH TARGETS INSTALLATIONS OF UTILITY-SCALE SYSTEMS OF AT LEAST
1MW RATED POWER
    * PPA COMPRISES BOTH PLANNED INSTALLATIONS OF TWO 100KW
SYSTEMS OF
MINESTO'S SUBSEA KITE TECHNOLOGY AND AN ADDITIONAL 2MW CAPACITY
ALLOCATED FOR INSTALLATIONS OF UTILITY-SCALE TIDAL ENERGY
SYSTEMS IN FAROE ISLANDS

Source text for Eikon:  ID:nWkr3yRZgP 
Further company coverage:  MINEST.ST 

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