Ocean Power Technologies, the world’s first publicly listed wave power company, has applied for permission to build the first utility scale wave power project in the
The application to the US Federal Energy Regulatory Commission (FERC) is for a 50MW wave power generation project in
OPT’s PowerBuoys proprietary technology is based on an ‘intelligent’, modular structure capable of responding to differing wave conditions.
The company’s PowerBuoy technology was recently cited in US Congressional hearings in support of increasing funding for ocean energy demonstration programmes. Representatives proposed an amendment to the Deep Ocean Energy Resources (DOER) Act which would increase the funding for ocean energy programmes from $6m to $20m per year.