New Jersey – Coming at the heels of OPT Inc.’s announcement that its subsidiary, Warwick, England-based OPT Ltd. was awarded GBP 1.5 million [US $2.3 million] for the development of its next-generation wave power system, the company today is announcing that it is getting closer to deploying its technology in the U.S.
Oregon-based OPT Inc. said that it signed a Settlement Agreement (SA) with 11 federal and state agencies and three non-governmental stakeholders for its utility-scale wave power project at Reedsport, Oregon. The agreement is the first step towards obtaining a FERC license to deploy the technology in what could be the first commercial-scale wave power project in America. The SA is for the phased development by OPT of a 10-PowerBuoy, 1.5-megawatt capacity wave energy station. OPT said that the agreement stipulates that development will take place “in a manner that protects ocean resources and stakeholder interests.”
Manufacturing of the first 150 kilowatt PB150 PowerBuoy is already underway at Oregon Iron Works under its contract with OPT. The 10-buoy wave farm will be connected to the grid after the FERC license is received and the company gets additional project funding.