Renewable Energy Solar Energy Wind Energy Geothermal Energy Bioenergy Hydropower

OPT Wins AU $66.5M Grant for Wave Power Project

November 17, 2009 | Post Your Comment

Do you like this news?

Bookmark

Feed

New Jersey, United States [HydroWorld.com] Ocean Power Technologies (OPT) has received a AU $66.5 million [US $61 million] grant from the Australian government to build a 19-MW wave power project off the coast of Victoria, Australia.

The project "is expected to be one of the first utility-scale wave energy projects globally, and the latest example of OPT's lead in turning wave energy technology into a commercial reality worldwide."

-- OPT Chairman George Taylor

The money will be used to build a wave power station in three phases beginning in the second quarter of 2010. The project was one of four renewable energy projects selected by the federal government after considering more than 30 applications.

The project “is expected to be one of the first utility-scale wave energy projects globally, and the latest example of OPT’s lead in turning wave energy technology into a commercial reality worldwide,” said OPT Chairman George Taylor.

The project will generate enough power to serve about 10,000 Australian homes, OPT said.

The grant was announced by the Australian Resources & Energy Minister, Martin Ferguson, under the Renewable Energy Demonstration Program. The program, which has awarded AU $235 million [US $219 million] to four renewable energy projects, was set up to meet Australia’s goal of generating 20 percent of the country’s electricity needs from renewable resources.

The company recently named Angus Norman chief executive of Ocean Power Technologies Ltd. in the United Kingdom. (HydroWorld 11/17/09)

PennWell's Hydro Group publishes Hydro Review and HRW-Hydro Review Worldwide. Hydro Review, the magazine of the North American hydro industry, offers practical, useful information, helpful examples, and constructive guidance from experts. Each issue has an average readership of more than 50,000. HRW's mission is to share practical, technical information and expertise on hydroelectric power to the international hydro community. The magazine has circulation of more than 10,000.

Hydropower, Ocean Energy

Add Your Comment

Registered users, please make sure to Sign-In. We and others want to know your ideas and opinions. If you are not yet Registered -- it's quick and easy. Just click below.
Thanks!