in News Departments > New & Noteworthy
print the content item

Ocean Power Technologies Inc. has announced that its wholly owned Oregon subsidiary, Reedsport OPT Wave Park LLC, has received approval from the U.S. Federal Energy Regulatory Commission (FERC) for the full build-out of its planned 1.5 MW, grid-connected wave power station offshore Reedsport, Ore.

According to Ocean Power Technologies, this is the first FERC license for a wave power station issued in the U.S. and provides an important regulatory approval for the deployment of up to 10 OPT devices.

The initial PowerBuoy is nearly constructed and is expected to be ready for deployment about 2.5 miles off the Reedsport coast later this year. OPT has received funding for this first system from the U.S. Department of Energy and PNGC Power, an Oregon-based electric power cooperative.

Specifically, FERC has granted a 35-year license for grid-connected, wave energy production.

"The issuance of this license by FERC is an important milestone for the U.S. wave energy industry as well as for OPT," says Charles F. Dunleavy, CEO of OPT. “The 35-year term of the license demonstrates the commercial potential of wave power, and this will support initiatives to secure financing for the project.”

After the initial PowerBuoy is deployed, OPT plans to construct the balance of the wave power station, consisting of up to nine additional PowerBuoys and grid connection infrastructure, subject to receipt of additional funding and all necessary regulatory approvals.



Hse SandyHook
Latest Top Stories

SaskPower Halts Smart Meter Installations Following Fires

The Canadian utility has suspended its smart meter deployment as it investigates half a dozen fires associated with the meters.


New Study Underscores Value Of Customer Engagement, Ranks Most-Trusted U.S. Utilities

According to the report, which analyzes 125 utilities across the country, earning a customer's trust can lead to monetary gains.


Washington State Doles Out Cash For Utility Energy Storage Projects

Three utilities have been awarded millions of dollars in grants to explore energy storage technology that could help integrate renewable and improve the power grid.


Utilities Reveal Just How Much Customers Are Saving With Energy Efficiency Programs

Two U.S. utility companies have issued progress reports and solid numbers regarding their respective initiatives.


Middle East And North African Countries To Spend Billions On Smart Grids, Solar Integration

According to a new report from Northeast Group LLC, the MENA region will make big investments to modernize the grid and add more solar power by 2024.

S&C Electric_id176
edf_id180