Power Generation

The Australian Government is investing AUS$235 million in four commercial-scale renewable energy projects, including a 19 MW wave power project.

The wave power project is being developed by Ocean Power Technologies Australasia (OPTA), a subsidiary of UK-based wave energy pioneer Ocean Power Technologies (OPT), and Leighton Contractors.

The partners will use the AUS$66.46 million grant from the Renewable Energy Demonstration Program (REDP) to move ahead with a 19 MW wave power station off the coast of Victoria near the city of Portland, which will be able to generate enough power for around 10,000 homes.

The wave project will be developed by joint venture company Victorian Wave Partners and will use OPT’s PowerBuoy® technology.

“Our Victoria, Australia project is expected to be one of the first utility-scale wave energy projects globally,” says executive chairmen of OPT and chief executive of OPTA.

The other three projects, which include two geothermal projects and a mini-grid project bringing together wind, solar, biodiesel and storage technologies, will deliver nearly 80 MW of renewable energy.

“These projects will diversify Australia’s energy supply and help deliver the Government’s expanded Renewable Energy Target of 20% by 2020,” says Minister for Resources and Energy, Martin Ferguson.

For further information:
www.australia.gov.au/
http://minister.ret.gov.au/thehonmartinfergusonmp/pages/renewableenergydemonstrationprogramfourinnovativeprojectsreceive$235million.aspx
www.oceanpowertechnologies.com

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