Ocean Power Technologies Awards Wave Energy Project Contracts

[jpak]

http://www.renewableenergyworld.com/rea/news/article/2011/04/opt-awards-wave-energy-project-contracts

Ocean Power Technologies Inc. is awarding four new contracts to Oregon companies in connection with the manufacture of its PB150 PowerBuoy wave energy generating device and its deployment off the coast of Reedsport, Ore., OPT announced.

The new contracts, with the previously awarded contract to Oregon Iron Works for the fabrication of the buoy's steel structure takes the total invested by OPT in the local economy to over $6 million, creating or saving up to 100 manufacturing and marine services jobs at the four companies and their suppliers, according to OPT.

After the initial PowerBuoy is deployed and tested off the coast of Reedsport, expected later this year, OPT plans to construct the first commercial-scale wave power station in the U.S., consisting of up to nine additional PowerBuoys and grid connection infrastructure, subject to receipt of all necessary regulatory approvals and additional funding, OPT said. This wave energy array will be developed by Reedsport OPT Wave Park, LLC.

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