WAVE ENERGY FACES TESTS

When is somebody going to build a wave energy installation with an offshore wind energy installation and double up on the siting, environmental impact studies and transmission infrastructure?

Race on to harness wavepower for energy
30 October 2007 (Budapest Business Journal)

WHO
Oceanlinx (David Weaver, CEO), Ocean Power Technologies, Pelamis (Colin Moynihan, CEO), Wavegen

Schematic of Wave Hub's "wiring and transmission" system. (click to enlarge)

WHAT
4 commercial marine technologies for generating electricity from wave energy are competing vigorously to prove themselves in practice and in the marketplace.

WHEN
- The 4 companies are competing at a UK-funded test facility called Wave Hub, 10 miles off the north coast of Cornwall. Wave Hub is a £28 million. 4.5 square mile project at which the 4 technologies will compete starting in 2008 to generate 20 megawatts of electricity.
- Surfers have already begun complaining.

WHERE
- Oceanlinx is developing the world’s largest wave energy project, 27 megawatts, off Victoria in Australia.
- Ocean Power Technologies is in the process of proving its technology at the British government testing facility off Cornwall.
- Pelamis is teaming with Scotland utility Scottish Power to develop a 3 megawatt wave energy farm off the Orkney Islands. CEO Moynihan has made big money in wind energy.
German energy giant Siemens owns Wavegen.

WHY
- Oceanlinx is valued at £90 million and is currently trying to raise £35 million to expand.
- Ocean Power Technologies is valued at £80 million
- Pelamis is teamed with energy giant E.ON and backed financially by Merrill Lynch, Blackrock, Norsk Hydro and General Electric.
- Wavegen is owned by deep-pocketed Siemens.

The Pelamis concept. (click to enlarge)

QUOTES
Weaver: “Wave energy needs to have an established leader and we believe we are that natural leader…The world is looking for the next alternative energy to wind. We are the next story.”