Minesto

 

Minesto are developing their Deep Green project off Anglesey with a 10MW array

Minesto

Leading marine energy developer Minesto has had a physical presence in Wales (headquarters of Minesto UK Ltd) since 2015. After securing a 10MW Agreement for Lease in June 2014, Minesto has focused its Welsh activities on verifying the functionality and power production of the Deep Green Technology at utility scale at their Holyhead Deep site off Anglesey.

Minesto’s Deep Green technology is the only known marine energy converter that can cost-effectively generate electricity from low-flow tidal streams and ocean currents – significantly expanding the UK and global exploitable energy resource.

Following the successful commissioning of the first 0.5MW Deep Green system in the Summer and Autumn of 2018, Minesto will move into the second phase in the development of the Holyhead Deep site where it will gradually expand the site by installing further devices to develop a commercial demonstration array of up to 10MW installed capacity.

Benefits for Wales

To date, Minesto has invested circa £27 million of private equity and ERDF funding in its project and operations in Wales. 23 FTE jobs jobs – of which the majority are highly skilled jobs in electrical, mechanical and offshore engineering – have been recruited within the Minesto organisation in the UK, with circa 70% of Minesto’s supply chain (18-20 companies) directly procured from companies based in Wales.

An execution of the long-term ambition of a phased expansion of the Holyhead Deep project to an 80MW commercial tidal energy array would see further substantial inbound investments as well as a considerable number
of direct jobs and supply chain opportunities created in North Wales – in addition to supplying the equivalent of some 60,000 Welsh homes with affordable, reliable and predictable clean electricity.