Swedish firms Minesto and Stena Line have agreed to work on a joint project in the UK, which will generate clean electricity from the ocean currents.
The companies have signed an agreement, under which Stena Line will construct an assembly hall on their land at the port in Holyhead, Wales.
Minesto will take this assembly hall on lease to be used for installation of Deep Green technology, which will generate cost-effective electricity from slowly flowing underwater currents.
The new hall will be used for both assembly and service and maintenance of the power facilities at the Holyhead Port.
The first commercial power plant array of Minesto will be installed in Holyhead Deep off the coast of North Wales.
Recently, Minesto has unveiled plans to expand the project from 10MW to 80MW installed capacity. The expansion will allow Minesto’s power plants to provide renewable electricity to more than 80,000 households in Welsh.
The construction on the assembly hall is expected to complete in June 2017.
Minesto CEO Martin Edlund said: “We are very pleased to have finalised this agreement with Stena Line. With its direct quay access for offshore transports to and from site we have secured a unique location that suits us perfect.
“In the establishment of our technology, it is also crucial to work with professional and long-term partners such as Stena Line. We are two companies from Gothenburg, exploiting these ocean energy business opportunities together in Wales, which adds to the excitement.”
Stena Line chief commercial officer Björn Petrusson said: “This investment creates value for Stena Line in several ways and demonstrates opportunities in port operations linked to ocean renewable.”
Image: Minesto and Stena will work on a project that will produce clean electricity from the ocean. Photo: courtesy of Minesto AB.