EU Innovation Fund Backs Minesto Euro Dragon Farm Tidal Kite Array

Minesto has been selected by the European Commission to enter grant agreement preparation for funding of 20.2 million euros under the Innovation Fund. The selected project, Euro Dragon Farm, is a first-of-its-kind 10-megawatt tidal kite array planned for deployment in Ireland. The company now enters the preparation phase to finalise and sign the grant agreement, with the process due to conclude in early 2027.

 

Details of the Funding

 

Minesto has won funding backing. The European Commission selected it. The grant nears 20.2 million euros. It comes from the Innovation Fund. It supports a tidal project.

The funding enters a new phase. It is grant preparation. The agreement will be finalised. An EU agency oversees it. Completion is due in early 2027.

 

The Project Design

 

The project is a tidal array. It is a first of its kind. It delivers 10 megawatts. It is planned for Ireland. It uses tidal kites.

The project suits specific conditions. It targets low-velocity currents. It uses a low-weight design. This is cost-efficient. It delivers predictable power.

 

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The Broader Benefits

 

The project creates local value. It builds supply chains. Skills development features. It offers a replicable solution. This is exportable.

The project supports energy goals. It strengthens security. It aids resilience. It serves the grid. It advances European tidal energy.

 

Significance of the Selection

 

Company leadership welcomed the selection. It called it a major milestone. It is the most significant yet. It reflects strong technology. It confirms competitiveness.

The selection positions the company. It spearheads the build-out. This covers Europe’s tidal sector. Its execution was rated highly. The investment case was attractive.