Minesto secures strategic port access and onshore operations site for large-scale commercial buildout in the Faroe Islands

GOTHENBURG, Sweden, Dec. 23, 2022 /PRNewswire/ -- Minesto has signed a long-term lease agreement with the Vestmanna municipality and Faroese utility company SEV for port access and onshore operations and maintenance (O&M) work site. The agreement grants access to a 2,050 m² site in the inner harbour of Vestmanna, Inni á Fjørð; including a new grid connection.

Site preparations have been completed and installation of the control station and maintenance infrastructure has been initiated. This site will accommodate the O&M hub for tidal energy production at the existing site in Vestmannasund, and the planned buildout of commercial tidal energy arrays in Hestfjord and Skopunafjord.

"The location of the Inni á Fjørð site is well suited for our ongoing and planned large-scale operations - it is sheltered, close to our site in Vestmannasund, and large enough to accommodate service of the planned kite arrays nearby.  We gain obvious synergies by co-locating our operations at this site," says David Collier, COO at Minesto.

This onshore infrastructure investment in Vestmanna is an essential addition to the assembly hall in Holyhead, Wales and ongoing upgrade of the test lab and prototype assembly workshop in Gothenburg, Sweden.

"In constructive collaboration with Vestmanna Kommuna and SEV, we have now secured an operations site that is suitable to both install and operate the first two 30 MW sites in nearby fjords, as well as support the Vestmannasund production site already in operation," concludes Dr Martin Edlund, CEO of Minesto.

For additional information, please contact

Cecilia Sernhage, Communications Manager
+46 735 23 71 58
ir@minesto.com

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