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    Oil prices weigh heavily on SEV's annual accounts
    21.04.2023
    Oil prices weigh heavily on SEV's annual accounts The 2022 Annual Accounts have been adopted by the AGM on 21st of April 2023. "Result after taxes amounted to DKK 16.7 million, which is less than satisfactory", said Kári Johansen,
    One step closer to improved wind energy penetration
    28.03.2023
    One step closer to improved wind energy penetration We are in the process of increasing our capacity to utilize wind energy in the Main Area of the Faroe Islands with the investment in a synchronous condenser and a battery energy st
    Minesto and SEV strengthen partnership for tidal energy build-out in the Faroe Islands
    23.01.2023
    Minesto and SEV strengthen partnership for tidal energy build-out in the Faroe Islands Press Release Minesto, leading ocean energy developer, and SEV, Faroese utility company, have renewedand expanded the collaboration agreement outlining respective roles and respons
    2022 - A record year
    20.01.2023
    2022 - A record year 2022 proved to be a record year in electricity generation in the Faroe Islands. In total 434 GWh of electrical power were generated, which is a 2.3 percent increase and a new recor
    Increase in electricity prices
    16.01.2023
    Increase in electricity prices While inflation has had a substantial impact on electricity prices throughout Europe, electricity prices in the Faroe Islands have hitherto not been affected. SEV has been able to
    Green Energy September
    07.10.2022
    Green Energy September   For 8 days in September, sustainable electricity generation on the islands of Suðuroy reached 100% and the motors of the thermal power plant were temporarily switched off. For 10
    Renewable energy generation in July 2022
    08.08.2022
    Renewable energy generation in July 2022 July 2022 As a result of the bad weather, the month of July was outstanding in terms of power generated from renewable energy sources. The power generated from wind and water was,
    Funding for Mýruverkið II has been provided
    27.07.2022
    Funding for Mýruverkið II has been provided SEV has now received the necessary funding for the pumped storage system in Vestmanna – also called Mýruverkið II. The funding has been provided by Faroese and foreign lenders. The
    Renewable energy increased by 15% during the first six months of 2022
    12.07.2022
    Renewable energy increased by 15% during the first six months of 2022 The need for energy in the Faroe Islands increases continuously, and in the first six months of 2022, the energy generation reached a total of 209,5 GWh, which is a growth of 3.5%
    PhD thesis on Ensuring Supply Reliability and Grid Stability in a 100% Renewable Electritity Sector in the Faroe Islands
    27.06.2022
    PhD thesis on Ensuring Supply Reliability and Grid Stability in a 100% Renewable Electritity Sector in the Faroe Islands On Friday 24th of June, Helma Maria Tróndheim successfully defended her PhD thesis entitled Ensuring Supply Reliability and Grid Stability in a 100% Renewable Electritity Sector in
    Minesto launches tidal array build-out plan, empoweringFaroe Islands towards 100% renewable energy
    13.04.2022
    Minesto launches tidal array build-out plan, empoweringFaroe Islands towards 100% renewable energy Leading marine energy developer Minesto has launched a detailed plan for large-scalebuild-out of tidal energy arrays in the Faroe Islands. The plan includes four new verifiedsites
    68% renewables in March
    12.04.2022
    68% renewables in March   The share of renewables in total Faroese electricity generation in March 2022 was 68 per cent. For a total of 10 days, renewable electricity generation exceeded 80 per cent. Hydr
    Minesto to concentrate Dragon Class operations in the Faroe Islands in 2022
    14.03.2022
    Minesto to concentrate Dragon Class operations in the Faroe Islands in 2022 Press Release Minesto Minesto has decided to concentrate this year’s operations with its Dragon Class marine energy converters at the established and grid-connected site in
    62% renewables in January
    10.02.2022
    62% renewables in January   Renewable electricity generation saw an all-time high in January 2022. A total of 24 GWh were produced from hydro power, wind power, biomass as well as solar power. Total electri
    Electricity prices will not increase in 2022
    26.11.2021
    Electricity prices will not increase in 2022 Next year's budget has been adopted by the Extraordinary General Meeting.  Although costs have increased in the year 2021 due to high prices on fossil fuel and below average sustai
    Wind turbine struck by lightning
    25.11.2021
    Wind turbine struck by lightning And just like that our oldest wind turbine went out with a blast. Struck by lightning the small 150 kW Nordtank wind turbine that has been in service since 1993 sustained irreparab
    40% green energy in the first half-year of 2021
    15.07.2021
    40% green energy in the first half-year of 2021 We are using more power than ever before. Within the first half of this year there were produced 202 GWt, which is the most within the first half-year.   Around 81 of these GWt wer
    Satisfactory result for 2020
    23.04.2021
    Satisfactory result for 2020 The annual accounts and annual report were adopted at the Annual General Meeting Friday 23 April 2021.   SEV’s financial result for 2020 was a profit of DKK 49.8 million after taxa
    49% sustainable electricity production first quarter 2021
    20.04.2021
    49% sustainable electricity production first quarter 2021 Sustainable electricity production in the first three months of 2021 reached 49 per cent of total production Extremely cold and calm weather in January and February resulted in bel
    Minesto announces power production performance aligned with simulated predictions
    23.03.2021
    Minesto announces power production performance aligned with simulated predictions As part of the continued operations programme in its tidal energy project in the Faroe Islands, Minesto has made significant progress related to electricity generation to grid. The
    New Board of Directors
    23.03.2021
    New Board of Directors Following the municipal elections, the new Board of Directors of SEV were elected at the Extraordinary General Meeting of SEV on 19 February 2021 As the power company SEV is fully
    Porkeri Wind Farm Inagurated
    12.02.2021
    Porkeri Wind Farm Inagurated The seven wind turbines that form the Porkeri Wind Farm inaugurated The latest and southernmost of the Faroese wind farms was officially opened 11th February 2021. The turbines are
    58% renewables in December 2020
    18.01.2021
    58% renewables in December 2020 More than half of Faroese electricity was powered by renewable energy in December 2020. Predominantly by hydro power. A warm and wet December 2020 with increased precipitation resu
    Renewables made up 56% of electricity generated in the Faroe Islands in November
    15.12.2020
    Renewables made up 56% of electricity generated in the Faroe Islands in November The electricity mix in November consisted of six different sources of energy - five of which were sustainable energy sources More than half of Faroese electricity generation in Nov
    Minesto reaches historic milestone – delivers first tidal energy to the Faroese grid
    01.12.2020
    Minesto reaches historic milestone – delivers first tidal energy to the Faroese grid As a part of the ongoing commissioning work of its DG100 tidal kite system Vestmannasund, Faroe Islands, leading marine energy developer Minesto has reached the milestone of delive
    Vestmannasund project update
    31.10.2020
    Vestmannasund project update Minesto is making progress at the company’s tidal energy site in Vestmannasund, Faroe Islands, in commissioning the DG100 kite system. To date Minesto has successfully verified the
    Commissioning started at Porkeri Wind Farm
    22.10.2020
    Commissioning started at Porkeri Wind Farm Commissioning of the seven wind turbines that form the Porkeri Wind Farm started Tuesday 20th October. The turbines are type E44 from German manufacturer Enercon. Each turbine has
    The Faroes’ first offshore wind farm
    17.09.2020
    The Faroes’ first offshore wind farm SEV has announced plans to build an offshore wind farm off the shore near the capital Tórshavn The wind farm will be a joint venture between Faroese energy providers and various
    Update on tidal wave project
    03.09.2020
    Update on tidal wave project Minesto has today announced that the company plans to continue commissioning activities in its tidal energy project in Vestmannasund, Faroe Islands in mid-October. Dr Mar
    Porkeri Wind Farm taking shape
    10.08.2020
    Porkeri Wind Farm taking shape The first of seven Enercon wind turbines has been installed in Porkeri on the island of Suðuroy In the outfield above the village Porkeri on the southernmost island in the Faroe
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