Minesto awarded funding to speed up tidal energy development in Taiwan

January 30, 2026, by Nadja Skopljak

Swedish tidal energy developer Minesto has secured grant funding from the Swedish Energy Agency (SEA) that will be used to accelerate its market development in Taiwan.

Thanks to the €24,000 grant funding awarded through the Global Innovation Accelerator (GIA) program, Minesto aims to secure investments and partnerships for the build out of tidal energy power plants at identified sites near Keelung and at Green Island.

The company took part in the Nordic-Taiwan Sustainable Energy Forum, held in Taipei in December 2025, where it presented its ocean-energy technology and engaged with key stakeholders across Taiwan’s energy industry.

“Participating in the Nordic-Taiwan Sustainable Energy Forum and advancing our work under the Global Innovation Accelerator programme builds momentum for Minesto in Taiwan,” said Dr. YungLung Chen, Project Developer, Minesto Taiwan. “The GIA programme provides a structured pathway for us to broaden our partner base and secure project finance for the first Dragon Farms in Taiwanese waters.”

Minesto reported that Taiwan remains a strategically important market, with the collaboration with National Taiwan Ocean University and an industrial partnership with Taiwan Cement Green Energy in place, supporting joint efforts to advance the commercialization of ocean energy solutions tailored to Taiwan’s future baseload renewable power needs.

“National assessments continue to highlight strong tidal streams and robust ocean-current flows in Taiwan’s surrounding waters, underscoring the long-term potential for predictable, renewable electricity generation. These conditions align closely with Minesto’s tidal technology and Taiwan’s ambition to build a resilient, low-carbon energy system,” Minesto stated.

A couple of months ago, Minesto participated in a high-level delegation visit to South Korea, aiming to explore new partnerships and strengthen bilateral collaboration in the green transition in a country the company describes as highly attractive due to its “extensive tidal and ocean current resources”.

Earlier this month, the European Investment Bank (EIB) selected Minesto for in-depth investment advisory support focused on increasing the financial attractiveness and overall quality of the investment offer for a 10 MW tidal energy array as part of a larger build-out in a selected EU market.