Minesto costs ‘fall’ 33%
Analysis estimates LCOE of €100/MWh and below for company’s tidal kite
Swedish developer Minesto claims the cost of its tidal kite technology is one-third lower than previously thought.
The company said that, following an updated analysis, it expects the levelised cost of energy (LCOE) to fall to €100 a megawatt-hour (MWh) after 100MW cumulative installed capacity in tidal streams.
It added that installing arrays in continuous ocean currents, which provide a much higher capacity factor than tidal streams, will see costs fall below €50/MWh.
Minesto chief executive Martin Edlund said the improved LCOE is down to two main factors.
“First, the expected performance of each system has improved. This can be attributed to our quarter-scale test results, new simulations data and a new verified turbine blade design developed in-house,” he said.
“Secondly, our operating and maintenance concept has improved considerably,” he added.
Minesto carried out the analysis with ITPEnergised.