The European Regional Development Fund through the Welsh Government has invested €13m in Swedish marine energy company Minesto for the development of its first Deep Green power plant in Holyhead.
Minesto’s Deep Green technology features underwater "kites", which can reach speeds of up to 10 times faster than water current, and generate 1000 times more power.
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Water current through the kites create a hydrodynamic lift force on the wing which pushes the kite forward, making the kites move in an 8-shaped trajectory.
With the movement of the kites, water flows through the turbines generating electricity.
The Swedish energy company plans to install the first 0.5MW power plant in Holyhead Deep, a seabed area west of Anglesey, North Wales.
Minesto plans to deploy a total of 20 kite arrays by 2019, which will generate 10MW of power.
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By GlobalDataThe power generated from the facility will be sufficient to meet the electricity needs of 8,000 households.
Part of the investment will also be sued by the company build its UK Headquarters in North Wales.
Minesto CEO Anders Jansson said: "Establishing Minesto UK Headquarters in North Wales is a strategic decision that will help make Wales a global leader in the marine energy sector.
"In the short term, around 30 direct jobs will be created, followed by hundreds more in the long term in areas like manufacturing, offshore operations and new project development.
"Today’s announcement represents an important step into the full commercialisation of marine energy in Wales."
The company got ‘Agreement for Lease’ for electricity generation from tidal currents near Holyhead Island in Wales back in 2014.
Image: Minesto’s Deep Green technology features underwater "kites" to generate power. Photo: courtesy of Minesto.
