Swedish tidal energy developer Minesto is taking part in an acceleration program that is set to strengthen its business capabilities in the Southeast Asia region.
Minesto has been awarded a place in the Business Acceleration Programme Southeast Asia (BAPSEA) joint program by the Swedish Energy Agency (SEA) and Business Sweden.
BAPSEA, which commences mid-March, is aimed at supporting Swedish companies with innovative solutions in energy and sustainability to enter the Southeast Asian market.
Through the 18-month program, Minesto will have access to resources, guidance, and networking opportunities with industry leaders, government officials, and potential partners in Southeast Asia.
“Being a part of the BAPSEA programme strengthens our ability to accelerate market progression in Southeast Asia. It also signals that our technology is regarded as a valuable contribution to the energy transition in one of the most challenging parts of the world, given the current dependence on fossil fuels,” said Martin Edlund , CEO of Minesto.
Minesto recently reported it was upgrading its roadmap to a 200 MW tidal energy buildout in the Faroe Islands as a response to the growing demand for renewable energy.
The news came shortly after the company’s 25-ton Dragon 12 tidal energy kite was commissioned in the early morning of February 9, delivering the first electricity to the national grid in the Faroe Islands.