Penguin wave energy converter gets EUR 17 mln
The European Commission’s research and innovation programme Horizon 2020 has granted EUR 17 mln for wave power research coordinated by Fortum.
The funding is awarded for the Clean Energy From Ocean Waves (CEFOW) five-year research project.
The aim of the project is to advance the use of the Penguin wave energy converter, developed by the Finnish company Wello, in electricity grid-connected ocean conditions.
The multi-device test project will be carried out at Wave Hub, wave research center located in Cornwall, UK, where Fortum has a leased sea area. The total budget for the project amounts to EUR 24.5 million, Fortum’s press release reads.
Heli Antila, Chief Technology Officer at Fortum, said: “By this project we are expecting to increase our capabilities and skills in the field of wave power. We believe that the funding from the European Commission and the experienced collaboration partners create excellent conditions for making great strides forward in commercializing Wello’s wave power technology.”
Last week, Wello announced that it is extending the testing programme of the Penguin wave energy converter at the European Marine Energy Centre (EMEC) in Orkney, in preparation for multi-device deployment in the near future.
Image: Wello Oy