Moving closer to deployment of wave power off the Oregon Coast
Ocean Power Technologies plans to deploy up to 10 of its power-generating buoys, each of which could power around 1,000 homes.
Source: Ocean Power Technologies website
Ocean Power Technologies Inc. on Monday said it has received a key license from the U.S. Federal Energy Regulatory Commission for its proposed 1.5-megawatt wave energy park off the coast of Reedsport.
The project becomes the first wave power station to be issued a license by FERC, according to New Jersey-based Ocean Power (NASDAQ: OPTT).
FERC’s approval of a 35-year license for a grid-connected wave energy facility is considered a key regulatory benchmark. OPT plans to deploy up to 10 of its power-generating buoys, each of which could power around 1,000 homes.
