Taiwan – replacing nuclear with renewable baseload
In Taiwan, Minesto is carrying out site development with the purpose to establish the first tidal energy arrays with Minesto’s technology in Asia – and to demonstrate renewable baseload generation from the continuously-flowing Kuroshio current.
The conditions for extracting marine energy in Taiwan are very good due to access to both tidal streams and continuous ocean currents. Taiwan aims to produces 20% of electricity from renewable sources by 2025 and has decided to scrap its nuclear power capacity within the same timeframe. Today, 97.5 percent of the country's total energy use comes from imported fossil fuels.
Taiwan has a well-developed industrial infrastructure and a number of stakeholders in the private and public sectors are active in marine energy.
Established collaboration with key stakeholders
Minesto has been active in Taiwan since November 2016 when the company formed a collaboration with the Research Center for Ocean Energy and Strategies at National Taiwan Ocean University, to explore the potential for Minesto’s Deep Green technology in Taiwan. Late 2017 Minesto established the subsidiary Minesto Taiwan Ltd to run the local site and project development.
Minesto is looking to install a device at a pre-consented tidal stream site in the North of Taiwan, close to the Keelung Islet. In addition, development work and dialogues with industrial partners are ongoing to move towards installations in the Kuroshio current, which could see the world's first electricity generated from ocean currents.
Bridgehead to the Asian market
Minesto’s establishment in Taiwan also consolidates a commercial expansion rollout throughout Asia, by both autonomously operated Deep Green Microgrid systems and array installations of Minesto Utility Scale systems.
In Southeast Asia alone, 65 million people live without electricity and many millions more live with unreliable supply, making them dependent on expensive diesel-generated electricity. Marine energy and Minesto’s Microgrid power plants have the potential to meet a substantial share of the need for reliable and clean electricity supply in this part of the world.