Energy
Minesto and Trayen Power partner for Chilean tidal energy
Swedish ocean energy developer Minesto has signed a memorandum of understanding with Trayen Power to advance tidal and ocean current projects in Chile.
Key points
- Minesto and Trayen Power signed an MoU for tidal and ocean current development in Chile.
- The partnership will evaluate sites for Minesto's Dragon Class technology.
- The collaboration aims to supply renewable electricity to local grids and industrial users.
What happened
Swedish ocean energy developer Minesto has entered into a memorandum of understanding with Chilean energy project developer Trayen Power. According to Offshore Energy, the agreement focuses on deploying tidal and ocean current energy projects in Chile.
The initiative will initially concentrate on identifying suitable locations for Minesto's Dragon Class technology, conducting feasibility studies, and securing development funding. Both companies aim to establish a technical and commercial foundation for future commercial operations.
Why it matters
Minesto views the South American country as an attractive market due to its tidal resources, which support both utility-scale arrays and microgrid applications. According to World Bank figures from 2021, renewable sources accounted for 48.1 percent of electricity output in Chile.
Martin Edlund, CEO of Minesto, noted that collaborating with a local partner is central to the firm's market-entry strategy, allowing for capital-efficient expansion into new regions.
What comes next
The immediate priority for the two companies is to pinpoint strong project opportunities, complete feasibility assessments, and advance initiatives toward investment and deployment.
Original reporting
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Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
