Stena Line, owning the Port of Holyhead, has partnered with the also Gothenburg-based Minesto for carrying out a project aimed at producing renewable electricity from the ocean.
The Swedish ferry company will build an assembly plant in Holyhead, scheduled for completion in June this year, leased afterwards to Minesto which will use it for rolling out its Deep Green technology for generating electricity from slowly flowing underwater currents.
In addition, Minesto's first commercial power plant array, the Holyhead Deep (recently upscaled from 10 MW to 80 MW), will be installed off the coast of North Wales, supplying as many as 80,000 Welsh households with locally-produced clean energy.
"We are very pleased to have finalised this agreement with Stena Line. With its direct quay access for offshore transports to and from site we have secured a unique location that suits us perfectly. In the establishment of our technology, it is also crucial to work with professional and long-term partners such as Stena Line. We are two companies from Gothenburg, exploiting these ocean energy business opportunities together in Wales, which adds to the excitement,” Dr Martin Edlund, CEO of Minesto, said.
Björn Petrusson, Chief Commercial Officer at Stena Line, added, "This investment creates value for Stena Line in several ways and demonstrates opportunities in port operations linked to ocean renewables. Our sustainability strategy has a clear focus on clean energy so participating in the development of new renewable energy sources is natural to us. This investment is good for our business and is also an investment in a better future for all of us."