Minesto signs PPA with electric utility SEV for utility-scale tidal energy installations
Leading marine energy developer Minesto has signed a power purchase agreement (PPA) with the Faroese electric utility company SEV, advancing the parties’ collaboration to integrate tidal energy in the Faroe Island’s electricity mix. The PPA comprises both the 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 the Faroe Islands.Minesto and SEV has initiated a first phase of collaboration to integrate tidal energy through Minesto’s Deep Green technology in the Faroe