Minesto and Schneider Electric join forces for tidal energy developments

Tidal Energy Minesto

Minesto, leading tidal energy developer, and Schneider Electric, global leader in digital transformation, automation and energy management, have partnered up for the development of marine energy projects; the companies announced this Thursday.

Firstly, the two companies signed a Memorandum of Understanding (MoU) to work together in the development of ocean energy farms, based on Minesto’s Deep Green Technology.

Secondly, the joint project aims at accelerating the commercial rollout of tidal energy, which will be key in the enabling of green energy economies, decarbonization of industries; and also, in net-zero societies, where clean, renewable sources of energy are necessary.

Thirdly, to achieve that acceleration, the companies will engage with lead users among independent power producers; and also, electric utilities, to integrate Schneider Electric’s know-how, as well as Minesto’s tidal energy technology.

Consequently, projects will range from small microgrid installations to multimegawatt farms; jointly they will be assessed, developed, “including exploiting the parties’ existing pipelines of leads. The collaboration will reach from technical system integration and project management to sales and project finance opportunities.” The statement reads.

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tidal energy

Tidal Energy, key for net-zero societies

In addition, Dr Martin Edlund, CEO of Minesto said. “This is for us a strategic partnership; one that will play a pivotal role in the commercial rollout of the Deep Green technology. Schneider Electric’s global presence, technological edge and also, expertise in integration of renewable energy production and microgrids, will significantly enhance Minesto’s value proposition to customers and renewable energy project investors.”

He also added: “we will work to use this partnership to establish thought leadership; and inform decision-makers on the opportunities and advantages of new complementary renewable energy technologies; not least building completely sustainable energy systems based on predictable baseload power generation from the ocean.”

On the other hand, Gary Lawrence, Power and Grid Segment President at Schneider Electric said. “For us it has been of significant importance to enter the marine energy sector together with a partner developing a game-changing technology; with both a global market and a potential for energy production at competitive cost of energy.”

Finally, Matthieu Mounier, Head of Microgrid at Schneider Electric, concluded. “Tidal and ocean current-based renewable energies are expecting to significantly contribute to the achievement, for both energy communities and remote users.”

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