{"id":3967,"date":"2024-06-11T11:07:48","date_gmt":"2024-06-11T04:07:48","guid":{"rendered":"https:\/\/thaipropertynews.com\/feeds\/?p=3967"},"modified":"2024-06-11T11:07:48","modified_gmt":"2024-06-11T04:07:48","slug":"minesto-and-sev-renew-and-update-power-purchase-agreement-underlining-the-value-of-tidal-energy-in-the-faroese-energy-mix","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=3967","title":{"rendered":"Minesto and Sev renew and update Power Purchase Agreement – underlining the value of tidal energy in the Faroese energy mix"},"content":{"rendered":"

GOTHENBURG<\/span>, Sweden\u00a0and V\u00c4STRA G\u00d6TALAND,\u00a0Sweden, June 10, 2024<\/span> \/PRNewswire\/ — Leading ocean energy developer\u00a0Minesto and pioneering Faroese utility company Sev have jointly renewed and updated the power purchase agreement (PPA). The price-level is adjusted to denote the total system value of tidal energy in the future 100% renewable energy mix in the Faroe Islands<\/span>. <\/p>\n

Initially signed in 2020, the PPA between Minesto and Sev is now updated and renewed for two more years after approval from the Energy Agency in the Faroe Islands<\/span> (Orka). The electricity price-level is upgraded to reflect the total system value of tidal energy.<\/p>\n

The PPA covers the capacity of the three tidal power plants in Vestmanna and is an extension of the first off-taker relationship in the world where energy from Minesto’s unique tidal energy dragons is supplied.<\/p>\n

“The updated PPA is on a price-level that underlines the value of tidal energy in energy mix in the Faroe Islands<\/span>,”\u00a0said Dr Martin Edlund<\/span>, CEO of Minesto.<\/p>\n

“We are pleased to sign a renewed power purchase agreement with Minesto at this point. We are very hopeful that tidal energy will play a vital role in the future energy mix in the Faroe Islands<\/span> and in our efforts to reach 100% sustainable electricity generation by 2030,”\u00a0said Terji Nielsen, Head of R&D at Sev.<\/p>\n

For additional information, please contact<\/p>\n

Cecilia Sernhage, Chief Communications Officer
+46 735 23 71 58
ir@minesto.com<\/a><\/p>\n

This information was brought to you by Cision http:\/\/news.cision.com<\/a><\/p>\n

https:\/\/news.cision.com\/minesto-ab\/r\/minesto-and-sev-renew-and-update-power-purchase-agreement—underlining-the-value-of-tidal-energy-in,c3998300<\/a><\/p>\n

The following files are available for download:<\/p>\n

\n

https:\/\/mb.cision.com\/Main\/14621\/3998300\/2855457.pdf<\/a><\/span><\/p>\n

Press Release<\/span><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

<\/p>\n

GOTHENBURG<\/span>, Sweden\u00a0and V\u00c4STRA G\u00d6TALAND,\u00a0Sweden, June 10, 2024<\/span> \/PRNewswire\/ — Leading ocean energy developer\u00a0Minesto and pioneering Faroese utility company Sev have jointly renewed and updated the power purchase agreement (PPA). The price-level is adjusted to denote the total system value of tidal energy in the future 100% renewable energy mix in the Faroe Islands<\/span>. <\/p>\n

Initially signed in 2020, the PPA between Minesto and Sev is now updated and renewed for two more years after approval from the Energy Agency in the Faroe Islands<\/span> (Orka). The electricity price-level is upgraded to reflect the total system value of tidal energy.<\/p>\n

The PPA covers the capacity of the three tidal power plants in Vestmanna and is an extension of the first off-taker relationship in the world where energy from Minesto’s unique tidal energy dragons is supplied.<\/p>\n

“The updated PPA is on a price-level that underlines the value of tidal energy in energy mix in the Faroe Islands<\/span>,”\u00a0said Dr Martin Edlund<\/span>, CEO of Minesto.<\/p>\n

“We are pleased to sign a renewed power purchase agreement with Minesto at this point. We are very hopeful that tidal energy will play a vital role in the future energy mix in the Faroe Islands<\/span> and in our efforts to reach 100% sustainable electricity generation by 2030,”\u00a0said Terji Nielsen, Head of R&D at Sev.<\/p>\n

For additional information, please contact<\/p>\n

Cecilia Sernhage, Chief Communications Officer
+46 735 23 71 58
ir@minesto.com<\/a><\/p>\n

This information was brought to you by Cision http:\/\/news.cision.com<\/a><\/p>\n

https:\/\/news.cision.com\/minesto-ab\/r\/minesto-and-sev-renew-and-update-power-purchase-agreement—underlining-the-value-of-tidal-energy-in,c3998300<\/a><\/p>\n

The following files are available for download:<\/p>\n

\n

https:\/\/mb.cision.com\/Main\/14621\/3998300\/2855457.pdf<\/a><\/span><\/p>\n

Press Release<\/span><\/p>\n<\/div>\n

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