Minesto and Trayen Power have recently signed an agreement to collaborate on the development of tidal and ocean current energy projects in Chile. This collaboration is aimed at harnessing the renewable energy resources available in Chile and supplying electricity to the local grid or energy consumers.
Opportunities and Challenges in the Chilean Market
Minesto, as a Swedish ocean energy developer, sees Chile as an attractive market with globally recognized tidal and ocean current resources. The company is looking to establish a partnership with a strong local partner to enter the market more effectively. Martin Edlund, CEO of Minesto, has emphasized that this collaboration will aid in advancing specific projects and providing the technical and commercial foundations for Dragon projects in Chile.
Long-term Goals and Development Strategies
The long-term goal of this collaboration is to develop tidal energy production by providing renewable electricity to the local grid or directly to local energy users. Miguel Iturrieta, CEO of Trayen Power, has stated that Minesto's Dragon technology presents an exciting opportunity to harness tidal resources in Chile. This collaboration will combine Minesto's technology and experience with Trayen Power's local project development capabilities. The initial focus will be on identifying and assessing the strongest project opportunities and advancing them towards feasibility studies and attracting investment.
Minesto and Trayen Power have a joint approach to developing opportunities with the aim of establishing a strong foundation for new market development and financing specific projects. This approach allows Minesto to efficiently enter new markets while providing a strong basis for future commercial establishment.
