REH Signs Deal for Wave Farm in Bermuda

Renewable Energy Holdings Plc has signed a Memorandum of Understanding (MOU) with Triton Renewable Energy Limited to develop, build and operate wave farms in Bermuda. Under the terms of the MOU, REH and Triton will negotiate a joint venture that will enable Triton to use REH’s proprietary CETO wave power technology, which is in the final stages of commercial testing. The commercial roll-out is expected to begin in 2009.

Triton will provide services to facilitate the development of the wave farms and REH will also provide engineering support during the construction and ongoing operation of the wave farms. Pending regulatory approvals, an initial test site of 2 megawatts (MW) is to be developed and following that, a grid-connected 20 MW installation. No timeline has yet been established for the projects.

Negotiations are expected to be concluded by the end of 2008. In the CETO design an array of submerged buoys is tethered to seabed pump units. The pumps deliver high pressure sea water ashore where it is used in conventional hydroelectric generators.

“It is currently very expensive to generate electricity in an island environment, due to the high cost of imported fuel oil. Bermuda has an excellent wave regime and there are several sites which we believe would be suitable for a CETO wave farm. There is also the added advantage of being able to provide desalinated water with the CETO technology, which is another benefit of deploying our technology on islands,” said Mike Proffitt, CEO of REH.

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