A wave energy developer based in Santa Fe has raised USD 100,000 and has USD 650,000 to go, in order to develop and install its wave energy system.
Atmocean plans to install the world’s first commercial wave-energy power plant in Peru. This week, the company’s CEO Phil Kithil confirmed to US media that they are on the right track to develop the Peruvian project. The plan is to have the system set up in spring of 2015.
Peru is an ideal location for this Atmocean project due to the steady waves which originate in the Antarctic and hit the coastline north of Lima. With less seasonal variability, efficiency is higher and costs are lower.
The company also highlights the fact that under law, Peru utilities purchase 100% of new sources of renewable electricity.