Ocean Power wins grant for Australian wave project »
Posted By STONERS 1 week, 6 days ago in NewsRenewable energy firm Ocean Power Technologies has won a A$66.5 million ($61 million) grant from the Australian government for a project set to be one of the first to generate power from waves on a utility scale.
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STONERS1 week, 6 days ago
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"Ocean Power, which is listed in both the U.S. and London, said on Friday work on the 19 megawatt project, enough to power 10,000 homes, was expected to begin by the second quarter of 2010."
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"The company uses buoys floating up and down to drive an electrical generator, with the power generated being transmitted onshore via an underwater cable."
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