Ocean Power Technologies (OPT) has signed an exclusive agreement with Idemitsu Kosan, Mitsui Engineering and Shipbuilding and Japan Wind Development to develop a wave-power station in
OPT said that the power station is expected to provide the groundwork for a larger commercial-scale wave-power plant with a capacity of 10MW or more. The total output from the wave-power station would be sold to electric utilities and could provide power for up to 3,000 households in
The initial phase of the contract will see OPT work with the Japanese consortium to identify ideal sites for the demonstration power station based on commercial potential. The companies will then work with OPT to build up to three of its PowerBuoys – ocean-going buoys that capture and convert wave energy into electricity – for the demonstration plant.
Under the agreement, OPT will sell the equipment for the power station to the consortium. The consortium will provide manufacturing and maintenance for any subsequent power stations, while OPT will provide its PowerBuoy technology under license and sell certain subsystems of the plant to the consortium.
Dr George Taylor, executive chairman at OPT, said: ‘We are delighted to be working with three of Japan's leading companies in forging a new way forward for wave energy in Japan. As one of the world's largest economies, with a dense urban population and a coastline almost as long as Canada, Japan plays a significant regional role in promoting technical innovation and clean energy. We look forward to working with this group to make an important contribution to achieving
The contract is the first for OPT in
Akira Kurosaki of the Business Development and Innovation Headquarters of Mitsui Engineering and Shipbuilding, said: ‘OPT’s in-ocean experience and technical strength make it a strong partner. Wave power is a very concentrated and predictable source of renewable energy that has great potential for
Following the agreement, OPT has been invited to become a member of the Tokyo Wave Power Initiative–
a scheme designed to promote the use of new energy sources in the country.