August 13, 2007 – Vol.12 No.21

Finavera Renewables Receives an Investigative Use Permit for Wave Energy Project for British Columbia.

The two year permit grants Finavera Renewables the right to conduct resource and environmental studies to determine the feasibility of a wave energy project. The proposed Ucluelet project has the potential to become the first offshore wave energy project in Canada.

Ucluelet, with an initial potential generating capacity of 5MW, would use interconnected clusters of the company's licensed and patented AquaBuOY wave energy converter. The project would have a planned expansion to 100MW.

The project may also be eligible for 'flow-through' tax incentives from the Canadian Federal Government.

Finavera Renewables is continuing the construction of a half-scale AquaBuOY device, and plans to deploy it this summer off the coast of Newport, Oregon.

The company now has five wave energy projects planned or under development in several countries.

The Investigative Use Permit will allow studies to be carried out to determine the extent of local fishing activities, commercial and recreational activities, visual impact, public safety, marine mammal resources, marine biological resources, and oceanographic conditions. These studies will also include the use of a wave measurement device (a 1.5 meter diameter buoy) to collect wave height and period data. An assessment of the power plant economics, local transmission, power capacity and other local infrastructure, including port access, will also be conducted. (8/13/07)

Links:

Finavera Renewables http://www.finavera.com

Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: Yes

| Front Page | Events | Archives / Resources | Publications | About / Contact | Subscriptions / RSS | Products / Services | Requests for Proposals / Funding Opportunities |
 

Copyright 1996 - 2007 Green Energy News Inc