OPT obtains US FERC approval for Oregon wave power station

Ocean Power Technologies (OPT) subsidiary Reedsport OPT Wave Park has received approval from the US Federal Energy Regulatory Commission (FERC) for the full build-out of its planned Powerbuoy 1.5MW, grid-connected wave power station off Reedsport, Oregon, US.

The FERC licence provides regulatory approval for the deployment of up to 10 OPT devices, generating enough electricity for around 1,000 homes.

The initial Powerbuoy is expected to be ready for deployment 2.5 miles off the Reedsport coast later in 2012.

Following this, OPT will construct nine more Powerbuoys and grid connection infrastructure, subject to receipt of additional funding and all necessary regulatory approvals.