Swedish tidal energy company Minesto can move its Dragon-class technology a step closer to commercialization as its technology assessment has been completed by energy and maritime technology assessment and certification company DNV.
The review of technology-readiness supports Minesto’s plan for a first 10 megawatt tidal energy array build-out in Faroe Islands and the potential for reaching competitive cost of energy (LCOE) levels based on the low system weight, as well as the unique and efficient installation and handling procedures.
DNV also provided guidance on potential risks and suggestions for areas of improvement which have been incorporated into the development agenda.
“As with all novel technologies, including ours, there is a strong need among potential customers and partners for input from independent trusted sources on risks and commercial readiness, especially as we are scaling-up and moving from single-kite operations to arrays,” said Dr. Martin Edlund, CEO of Minesto. “We can see that the conclusions and quality of the review performed by DNV is of great value for us in satisfying this need.”
The review is based on full disclosure of technical data related to relevant aspects of the Dragon-class technology, ranging from energy conversion performance, production volumes and installation procedures. Comprehensive documentation, workshops with the Minesto development team and a visit to the production site on the Faroe Islands during offshore installation were taken into consideration for the review process.
Minesto is sharing the review results together with technical documentation with selected partners and potential customers under NDA to move the commercial agenda forward, showcase the technology and provide required transparency.
