Minesto, a Swedish marine energy developer, has been selected to participate in the Sweden-Indonesia Collaboration Initiative (SISP). This initiative, supported by the Swedish government, aims to accelerate the development of tidal energy in Indonesia.
High Potential of Marine Energy in Indonesia
The SISP initiative brings together Swedish companies and Indonesian stakeholders to accelerate the adoption of sustainable technologies and solutions. As part of the sustainable energy program of this collaboration, Minesto will work with Business Sweden to develop business opportunities for its tidal energy technology. This includes identifying strategic partners, facilitating access to financing, and advancing project development.
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According to Minesto, Indonesia has significant potential for tidal energy production, as its vast network of islands and straits provides favorable conditions for harnessing tidal flows. The total marine energy potential of the country is estimated to be around 60 gigawatts.
Business Opportunities and Ongoing Projects
Martin Edvén, CEO of Minesto, stated: "Indonesia is one of the largest global markets for our technology. The country's extensive tidal resources, coupled with the growing demand for reliable renewable electricity, create significant opportunities. Participating in the Sweden-Indonesia collaboration enhances our ability to turn this potential into commercial projects, alongside Business Sweden and key Indonesian stakeholders."
This collaboration emphasizes Minesto's ongoing business development in Indonesia. One opportunity is the tidal energy project in Nusa Penida, located southeast of Bali, where Minesto is conducting feasibility assessments in collaboration with local partners.
Through its partnership with Business Sweden, Minesto has stated that it will continue to strengthen local partnerships to advance project development.
Johan Lennart Falk, Country Manager for Indonesia at Business Sweden, said: "Indonesia has significant potential in marine energy and hydropower resources that can play an important role in diversifying the country's renewable energy mix."
He added: "Minesto's technology offers a promising solution that provides predictable renewable electricity by harnessing tidal flows that were previously difficult to utilize, complementing other hydropower and marine energy solutions."
Minesto recently signed a memorandum of understanding (MoU) with Chilean energy project developer Trayen Power to collaborate on the development of tidal energy and ocean current projects in Chile. Additionally, the European Commission has selected Minesto to receive €20.2 million in funding from the Innovation Fund to develop 10-megawatt tidal arrays in Ireland.
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