Ocean Power Tech (OPTT) Signs MOU With Oregon To Develop More Wave Power Along Coast

Just a few days ago Ocean Power Technologies (OPTT) announced it was building the first N. American commercial scale wave energy system for use in Reedsport, Oregon.  This morning, the company is announcing it has signed a memorandum of understanding with the State of Oregon to put in motion a strategy for developing additional wave energy projects along the coast of Oregon.  The company is already studying the feasibility of building a wave power plant in Coos Bay in phases up to 100MW

Oregon Governor Ted Kulongoski commented, “I believe that the Agreement between Oregon and OPT provides a foundation for moving forward in a manner that is respectful of existing ocean uses and values, while helping Oregon transition to an independent renewable energy future. In particular, I welcome OPT as the first commercial developer of wave power stations in Oregon. OPT is investing substantial resources in Oregon and providing expertise to help Oregon achieve its desired goal of becoming a world leader in responsible commercial development of wave energy. The major portion of its wave power stations will be manufactured in Oregon, creating important “green” jobs in this exciting new industry.”

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