Minesto Sees No Impact of COVID-19 on Its Business

Swedish marine energy developer Minesto said that so far it has had no negative impact related to the coronavirus disease (COVID-19) on incoming components and subsystem deliveries.

The major kite system components for Minesto’s Faroe Islands project are assembled and are currently being factory tested and commissioned.

Minesto is targeting installation of the first DG100 system in the second quarter of 2020.

Just like everyone else, we are closely following the situation to ensure that we do what we can to keep our employees safe and to take a social responsibility in all the regions where we are operating,” said Dr Martin Edlund, CEO of Minesto.

Minesto’s tidal energy project in the Faroe Islands

We are making steady progress towards installation of our first DG100 system in Vestmannasund. We are very pleased with the continued constructive partnership with SEV who is making headway with their commitments to our joint project. A milestone in this collaboration is the power purchase agreement we signed in mid-February,” Edlund said.

Minesto said it is now carrying out onshore commissioning testing of the DG100 tidal kite system and preparing it to be shipped to the Faroe Islands. At the cable landing site in Vestmannasund, the necessary onshore infrastructure works are currently underway by SEV to enable the two Minesto kites to be grid connected.

In addition, Minesto has established a Faroese subsidiary, Minesto Føroyar ApS, which will facilitate and further develop ongoing and future installations of Minesto’s Deep Green power plants in the Faroe Islands.

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