Logo
Print this page

Wave energy park gets $2.4 million

Ocean Power Technologies Inc. received $4.8 million from the U.S. Department of Energy, and plans to use half towards the planned wave energy park off the coast.

Ocean Power Technologies Inc. received $4.8 million from the U.S. Department of Energy, and plans to use half towards the planned wave energy park off the coast of Reedsport.

The funding comes in two $2.4 million awards.

The first will be used for finishing and eventually deploying its first 150-kilowatt PowerBuoy, which is now under construction by Clackamas-based Oregon Iron Works. It’s the second batch of funding to be granted to the PowerBuoy work, following $2 million awarded by the Department of Energy in 2008.

The 220-ton buoy now under construction is expected to be deployed sometime next year. It will be part of a planned 10-buoy, 1.5-megawatt wave energy park along the Oregon Coast at Reedsport that is expected to provide enough power for about 1,000 homes.

Read more at Sustainable Business Oregon.

{biztweet}wave energy{/biztweet}

Last modified onMonday, 19 October 2015 11:39
Template Design © Joomla Templates by GavickPro. All Rights Reserved.