Ocean Power Tech (OPTT) Moves Closer To Commercial Scale Wave Energy In Oregon

Posted by | # |
08:02:52 am on August 4, 2010

Ocean Power Technologies (OPTT) moved another step closer to realizing its goal of completing the first commercial scale wave power station in the US.  The company has signed a Settlement Agreement with 11 federal and state agencies for its Reedsport, Oregon wave energy project which covers everything from aquatic resources, water quality, recreation, public safety, crabbing and fishing and cultural resources.

===> Click Here For Your FREE Ocean Power Technical Analysis

The next step for Ocean Power is a license issued by the Federal Energy Regulatory Commission for a 10 Powerbuoy, 1.5MW wave energy system that could potentially power up to 1000 homes.  Manufacturing is already underway on the first 150kW PB150 Powerbuoy in Oregon at Iron Works which has contracted to build the Powerbuoys.  In addition to the federal license, the company will likely need additional funding as well.  No word on when a federal license could be granted, but I’d imagine the stock would pop on that news.  The stock isn’t moving as I write this.

More on this topic (What's this?)
Energy Trends That Matter For Investors
Ameresco Revenues Fall Off Fiscal Cliff
Read more on Energy, Ocean Power Technologies, Ocean Power Tech at Wikinvest
Tags: , , ,
 
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.

Comments  

No comments yet.

Leave a comment

(required)

(required)


*