Minesto's Tidal Dragons to Power Taiwan's Green Energy Future

GOTHENBURG, Sweden – January 30, 2026 – Swedish ocean energy developer Minesto has secured a €24,000 grant from the Swedish Energy Agency (SEA) to accelerate its expansion into Taiwan, a move that signals a significant step forward for the global marine energy sector. The funding, awarded through the agency's Global Innovation Accelerator (GIA) programme, is earmarked to help the company secure investments and partnerships for its first tidal energy power plants in Taiwanese waters.

This development follows Minesto's recent high-profile participation in the Nordic-Taiwan Sustainable Energy Forum in Taipei, where the firm showcased its unique underwater kite technology to key policymakers and industry leaders. The grant and strategic engagements are set to catalyze the development of tidal energy sites identified near the northern port city of Keelung and off the coast of Green Island, tapping into a vast, predictable, and largely unharnessed renewable resource.

Taiwan's Ambitious Green Energy Push

Minesto's entry into Taiwan comes at a critical juncture for the island's energy policy. Facing the dual pressures of ensuring energy security and meeting climate goals, Taiwan has embarked on an ambitious transition away from fossil fuels and nuclear power. The government's strategy aims to "promote green energy, increase natural gas, reduce coal-fired, achieve nuclear-free," creating a fertile ground for innovative renewable technologies.

While the initial goal of sourcing 20% of its electricity from renewables by 2025 has been revised to a more pragmatic 15%, the long-term vision remains aggressive. Taiwan is targeting 40% renewable energy generation by 2030 and aims for a 60-70% share by 2050 as part of its Net Zero emissions pathway. To achieve this, the nation must look beyond the established pillars of solar and wind power, which, despite rapid growth, are intermittent by nature.

This is where ocean energy becomes a strategic asset. The Ministry of Economic Affairs has set specific, albeit nascent, targets for ocean energy, aiming for 1 MW of capacity by 2030 and a substantial 7.5 GW by 2050. The introduction of a Feed-in-Tariff (FIT) for ocean energy in 2022 at €215/MWh further underscores the government's commitment to cultivating this sector. For an island nation heavily reliant on imported energy, developing a domestic, predictable power source like ocean currents is not just an environmental goal but a matter of national security and economic resilience.

Harnessing the Power of the Kuroshio Current

Taiwan's geographical location makes it one of the world's most promising sites for ocean energy generation. The powerful Kuroshio Current, the second-largest ocean current globally, flows steadily along its eastern coast. This natural phenomenon provides a consistent and predictable source of energy, a crucial advantage over the fluctuating output of solar panels and wind turbines.

The sites targeted by Minesto, particularly Green Island, are situated directly in the path of this marine powerhouse. Located approximately 30 kilometers offshore, the waters between Taiwan's eastern coast and Green Island experience peak flow speeds of 1 to 1.5 meters per second. While these speeds are lower than those found in some tidal straits, they are ideal for Minesto's specialized technology. National assessments estimate that the total energy potential in Taiwan's waters could exceed 100 GW, with at least 6 GW considered technically exploitable with current and emerging technologies.

This immense potential offers a path to generating reliable baseload power—the minimum level of electricity demand required around the clock. By providing a constant energy supply, ocean current power plants can help stabilize the grid, reduce reliance on fossil fuel "peaker" plants, and support the integration of more intermittent renewables, forming a more robust and sustainable energy system.

Swedish Innovation Meets Taiwanese Ambition

The project's advancement is being propelled by Minesto's innovative "Dragon" technology and the strategic support of the Swedish government. Unlike traditional tidal turbines that are stationary and require very strong currents, Minesto's devices are tethered underwater "kites" that "fly" in a figure-eight pattern. This motion dramatically increases the relative speed of the water flowing through the turbine, allowing the system to generate electricity efficiently in areas with slower, yet more widespread, ocean currents.

The plan is to deploy these devices in arrays, or "Dragon Farms," to create utility-scale power plants. The €24,000 grant from the Swedish Energy Agency's Global Innovation Accelerator (GIA) programme is a crucial catalyst in this process. The GIA is specifically designed to help Swedish cleantech companies with proven technologies to scale up and succeed in international markets.

"Participating in the Nordic-Taiwan Sustainable Energy Forum and advancing our work under the Global Innovation Accelerator programme builds momentum for Minesto in Taiwan," said Dr. YungLung Chen, Project Developer for Minesto Taiwan Ltd., in a recent statement. "The GIA programme provides a structured pathway for us to broaden our partner base and secure project finance for the first Dragon Farms in Taiwanese waters." This highlights a clear strategy: using targeted government support to de-risk the initial, capital-intensive phases of commercial-scale deployment.

Building a Local Ecosystem for Ocean Energy

Minesto's strategy in Taiwan is not simply about exporting hardware; it's about building a local ecosystem through strategic partnerships. The company has already established a foundation through collaborations with two key Taiwanese institutions: National Taiwan Ocean University (NTOU) and Taiwan Cement Green Energy.

The partnership with NTOU, a leading marine science and engineering institution, provides essential academic and research support. This collaboration is vital for conducting detailed site assessments, environmental impact studies, and tailoring the technology to the specific oceanographic conditions of Taiwan's waters. The university's expertise, including insights from figures like Professor Emeritus Kehr Young-zehr, helps ground the project in rigorous local science.

On the industrial side, the partnership with Taiwan Cement Green Energy brings crucial commercial and logistical muscle. As a major industrial player with a growing focus on sustainability, Taiwan Cement can provide the investment, manufacturing capability, and infrastructure expertise needed to transition the 'Dragon Farms' from a concept to a tangible asset on the national grid. These local alliances are essential for navigating regulatory landscapes, building supply chains, and ensuring the long-term success and integration of the projects. The recent Nordic-Taiwan Sustainable Energy Forum provided a vital platform for strengthening these ties and engaging with the wider energy sector, demonstrating a model of international cooperation driving the global energy transition.