Swedish marine energy developer Minesto and Schneider Electric are working together to develop and build ocean energy farms based on Minesto’s Deep Green technology.

The collaboration aims at accelerating the commercial roll-out of marine energy to enable the global transition towards net-zero societies, where energy systems that include plannable, renewable energy production are necessary.

To leverage the value proposition of ocean energy to customers, Minesto and Schneider Electric will engage with independent power producers and electric utilities and integrate Schneider Electric’s know-how and products with Minesto’s tidal and ocean current energy technology.

“We are delighted to join forces with Schneider Electric, a global leader in energy transition and digital transformation,” said Martin Edlund, CEO of Minesto. “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, he said the companies would use this partnership to establish thought leadership and inform decision-makers on the opportunities and advantages of complementary renewable energy technologies, not least building completely sustainable energy systems based on predictable baseload power generation from the ocean.

Projects ranging from smaller microgrid installations to multimegawatt farms will be jointly identified, assessed, and developed, including exploiting the parties’ existing pipelines of leads. The collaboration will reach from technical system integration and project management to sales and project finance opportunities.

“We look forward to working with Minesto to bring ocean energy into the global renewable energy mix, balancing variable renewables with predictable, renewable baseload,” said Gary Lawrence, power and grid segment president at Schneider Electric. “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.”

Matthieu Mounier, head of microgrids at Schneider Electric, added: “Users and producers of energy increasingly demand sustainable solutions to reach their carbon reduction objectives while enhancing business resilience. Tidal and ocean current-based renewable energies are expected to significantly contribute to the achievement, for both energy communities and remote users.”

Minesto is a marine energy technology company with the mission to reduce the global carbon footprint of the energy industry by enabling commercial power production from the ocean. Its patented Deep Green product is a verified marine power plant that operates cost efficiently in areas with low-flow tidal streams and ocean currents.

With more than €40m of awarded funding from the European Regional Development Fund through the Welsh European Funding Office, European Innovation Council and InnoEnergy, Minesto represents the European Union’s largest investment in marine energy to date. It was founded in 2007 and has operations in Sweden, Wales, Ireland and Taiwan.