Schneider Electric and Minesto have announced a collaboration to create ocean energy farms.
The memorandum of understanding was signed by both companies and they plan to use Minesto’s Deep Green technology to generate energy from our oceans.
The project aims to create a wide host of energy solutions, from the massive multi-megawatt farm to small-scale energy options. Commenting on the new partnership, Schneider Electric’s Power and Grid Segment President Gary Lawrence stated:
“We look forward to working with Minesto to bring ocean energy into the global renewable energy mix, balancing variable renewables with predictable, renewable baseload. 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.”
While Minesto CEO Dr. Martin Edlund commented:
“We are delighted to join forces with Schneider Electric, a global leader in energy transition and digital transformation. It is for us a strategic partnership that will play a pivotal role in the commercial rollout of the Deep Green technology. Schneider Electric’s global presence, technological edge and expertise in integration of renewable energy production and microgrids will significantly enhance Minesto’s value proposition to customers and renewable energy project investors. Beyond this, 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.“