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Thursday, February 2, 2023

News from the Faroe Islands

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May 20, 2021

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The International Review of Faroe Islands Industry and Trade

SEV, Minesto Bolster Partnership in Large-scale Tidal Energy Project
January 30, 2023
Swedish ocean energy developer Minesto and Faroese utility company SEV have extended and scaled up their joint venture in the development of their tidal energy project in the Faroe Islands. According to an announcement from Minesto the “renewed and expanded” collaboration agreement includes “the ongoing electricity production in Vestmannasund and the first large scale […]
Thor Purchases Support Vessel to Serve Offshore Wind
January 18, 2023
Entering Japan’s renewable energy sector, one of Faroese company Thor’s subsidiaries, Thor Wind, has acquired the Vos Shine, a support vessel the company had bareboat-chartered from Vroon Offshore Services of the Netherlands. According to Thor, the newly acquired vessel is expected to re-enter operations in Japan in about two weeks. “Thor is taking this […]
Bakkafrost receives new 109-meter fish farming vessel ‘Bakkafossur’
January 9, 2023
The headquarters of salmon farmer Bakkafrost at Glyvrar were the scene of a grand reception on January 7th as the brand new 109-meter hybrid well boat ‘Bakkafossur’ arrived at the company’s terminal. Making the fish farming major’s fleet of workboats as many as a total 89, this was, in the words of Bakkafrost CEO […]
Varðin Pelagic Processing Plant Plans Major Expansion at Tvøroyri
January 7, 2023
Faroese fishing major Varðin’s pelagic processing facility at Tvøroyri, known as Varðin Pelagic, is set for a major expansion in the near future, according to news reports. The high-tech processing plant at Tvøroyri on the island Suðuroy opened for business in 2012 and is now planning to expand into protein production with a plant […]
Atlantic Airways Sells Historic A319 in Fleet Upgrade
December 14, 2022
With the aim of adding a fourth Airbus A320 to its fleet in March 2023, Faroe Islands carrier Atlantic Airways has sold the first Airbus A319 airplane that it purchased back in 2012. The replacement of the A319 is part of the airline’s ongoing efforts to become more competitive and more sustainable, the company […]
Underwater Lighting Becomes an International Hit for JT Electric as It Celebrates 50th Anniversary
November 22, 2022
Celebrating the 50-year anniversary of its founding these days, Fuglafjørður-based electrical engineering firm JT Electric is experiencing rapid international growth. Over the last four years, the company has seen its sales multiply in key export markets and branches established abroad, most notably in Scotland, where the company acquired Sterner Aquatech, of Inverness, about two […]

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