Minesto is seeking a new gravity-based foundation supplier for its 500kW tidal kite to be installed off Anglesey after terminating the contract of Ocean Resource.
The Swedish developer said it had no option after the Stourbridge outfit was unable to meet its financial commitments to subcontractors, in turn leaving them unable to fulfil their contractual obligations to Minesto.
The foundation is a key component of Minesto’s commercial-scale Deep Green tidal device, the first of which are due to be installed this year for the Holyhead Deep project.
Ocean Resource’s scope consisted of the design, manufacturing and delivery to Holyhead of one foundation.
The design phase was completed and the construction phase had kicked off “a few weeks” before Ocean Resource told Minesto of their financial situation, it said.
Minesto chief executive Martin Edlund said the company has taken immediate action to “ensure the continuation of the Holyhead Deep project and our long-term commitment in Wales”.
“Suppliers have been evaluated and shortlisted and negotiations with them are ongoing,” he added.
“To keep the project on track and minimise any delays and other risks associated with this situation, we intend to engage a new supplier shortly.”
Image: Deep Green (Minesto)
