The project, off the west coast of the Shetland Islands, will be up to 20MW in size and potentially use around 25 Pelamis P2 machines.
The launch of the joint venture, dubbed ‘Aegir Wave Power’, coincides with the opening of Vattenfall’s new Edinburgh office by Alex Salmond, Scotland’s first minister.
Salmond said: ‘Investment in renewable energy is driving Scotland’s economic recovery, with projects up and down the country supporting highly skilled, low-carbon jobs, and we are leading the way by developing the technology and capacity in renewables, carbon capture and energy efficiency to reduce the effects of global warming.’
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