Minesto Looks to Boost Its Tidal Energy Project Off Wales
Swedish marine energy developer Minesto intends to expand the commercial roll-out of its Deep Green technology in Holyhead Deep, North Wales by taking steps to increase the planned installed capacity of its tidal energy array to 80 MW.
The company has submitted a scoping report to UK consenting authorities Marine Management Organisation (MMO) and Natural Resources Wales (NRW), asking for their scoping opinion for development of an 80 MW site in Holyhead Deep.
Minesto believes that such a scale for its first commercial project is appropriate from both a business and a technology development perspective.
This is underpinned by an in-depth study analysing the site’s capacity by Xodus Group. The study concludes that the 9 km2 area in Holyhead Deep, for which Minesto currently holds an Agreement for Lease for 10 MW from the Crown Estate, is suitable for future deployment of up to 80 MW installed capacity of Deep Green power plants.
“Our projection of an 80 MW project in Holyhead Deep gives a levelized cost of energy (LCOE) which is 50 percent lower than for a 10 MW project. This substantial scale-up of the project’s commercial strength will make it even more attractive to site investors. Taking this step also means that we are creating early opportunities for Minesto to sell Deep Green power plants to the newly incorporated site development company Holyhead Deep Ltd,” says Dr Martin Edlund, CEO of Minesto.
Following the planned installation of the first 0.5 MW commercial-scale demonstrator this year, Minesto intends to develop the Holyhead Deep site in three phases as part of a deploy-and-monitor approach. This gradual expansion should see Minesto taking the Deep Green technology from demonstrator to full industrial roll-out in North Wales.