Project status update: First phase of offshore installation Dragon 12 completed in Vestmanna, Faroe Islands

GOTHENBURG,Sweden,May 31,2023 --Minesto,leading ocean energy developer,has today successfully completed the first phase of Dragon 12 (1.2 MW) offshore installation in Vestmanna,Faroe Islands. The 3.4 km main subsea cable was laid on the seabed,from the onshore grid connection point to the offshore installation node.

After transit across the North Atlantic Ocean to Vestmanna,the cable installation work was commenced and was successfully completed today. The cable installation was completed in a 22-hour operation.

"This cable is the highest valuable component of the infrastructure,and it's a major milestone to have it safely installed. The installation and operation were completed according to plan thanks to our team and suppliers",said Dr Martin Edlund,CEO of Minesto.

A standard offshore supply vessel was adapted by Minesto's subcontractor Inyanga for the cable laying to provide a cost-efficient vessel solution for the marine operations. The cable was manufactured by JDR in the UK and loaded onto the installation vessel in Hartlepool prior to transiting to the Faroe Islands.

The next steps for the D12 installation are seabed anchoring and kite installation.

For additional information,please contact

Cecilia Sernhage,Communications Manager

+46 735 23 71 58

ir@minesto.com

The following files are available for download:

https://mb.cision.com/Main/14621/3777576/2095396.pdf

Press release

https://news.cision.com/minesto-ab/i/cable-laying-vestmanna,c3184245

Cable laying Vestmanna

https://news.cision.com/minesto-ab/i/minesto-cable-laying-in-vestmanna-faroe-islands,c3184270

Minesto cable laying in Vestmanna Faroe Islands

https://news.cision.com/minesto-ab/i/minesto-cable-laying,c3184271

Minesto cable laying