Swedish company Minesto has signed a collaboration agreement with Taiwan Cement Green Energy (TCCGE) to pursue tidal and ocean current energy buildout in Taiwan.
The agreement covers assessments of economic and technical feasibility of selected sites, site development, and applications for feed-in tariffs, according to Minesto .
The energy transition agenda in Taiwan is ambitious but with significant challenges given the large share of fossils currently relied on, which stand at 95%.
The available ocean energy resource, when matched with the right technologies, opens up an opportunity to move forward rapidly and with higher ambitions, Minesto said.
The company’s ambitions are also backed up by a new ocean energy electricity feed-in tariff, introduced in Taiwan in 2022 to support the transition into renewable energy .
Martin Edlund , CEO of Minesto, said: ”Taiwan Cement is an experienced and successful developer of renewable energy production in Taiwan with a strong focus on pioneering projects and an openness for new technologies.
“Minesto’s Dragons are still in the early stage of commercial deployment and that makes this collaboration even more valuable for us, them and Taiwan.”
Yung-Lung Chen , project manager of Minesto Taiwan, added: ”Our long-term commitment to Taiwan can finally bear fruit. We are looking forward to working with one of the strongest and most renowned companies in Taiwan to seek synergies in local production and supporting infrastructure, while leveraging on Taiwanese manufacturing and technology strengths.”
Welcoming the agreement, the president of TCCGE, William C.L. Weng , said: ”We have a lot to investigate and pursue, that makes it even more important to accelerate development and push forward. We are looking forward to the collaboration.”