USA: OPT’s Oregon Wave Energy Project Could See Delays

The wave energy project off the Oregon coast could see delays, reported the Associated Press.

Ocean Power Technologies (OPT) planned to install a test buoy in 2013, but due to a new regulatory impediment they will not be able to attain this objective.

CEO of the company, Chuck Dunleavy said: “This process could require significant delay of the deployment of the first PowerBuoy, as well as present additional costs for the company.”

Last year in August, OPT was awarded the FERC License to install up to 10 wave devices, which could generate enough electricity for approximately 1,000 homes.

Before completing all conditions of its license, OPT planned to install a test buoy in the water. Unfortunately, they found out in February that they are required to fulfill all conditions before installation.

“Since the first buoy was not going to be grid-connected, the company did not believe it was under the FERC jurisdiction,” said Chief Financial Officer Brian Posner.

[mappress]

Press release, March 28, 2013; Image: opt