http://www.renewableenergyaccess.com/rea/news/story?id=46206The viability of harnessing waves as a lucrative renewable energy source received a boost last week following the announcement that the world's first commercial wave energy project will begin delivering wave-generated energy to the north of Portugal later this month.
The first stage of the European Union-funded program, the result of two decades of research at Lisbon's Superior Technical Institute, will bring the first 2.25 megawatts ashore at Agucadoura, in northern Portugal, and will power 1,500 homes through the national state run electricity grid system according to an Inter Press Service (IPS) report.
Funded by a consortium headed by leading Portuguese renewable energy company Enersis, the venture uses groundbreaking Pelamis wave devices manufactured by Edinburgh firm Ocean Power Delivery, considered the world's leading wave technology.
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With its geographical position and extensive coastline giving access to the larger and more powerful Atlantic waves, official estimates from Portugal's State Secretariat for Industry and Innovation have predicted wave power could account for up to 30 percent of the country's gross domestic product by 2050. Renewable energy experts have determined wave farms in Portugal could yield as much as three times as much energy as that produced by a wind turbine park for the same investment cost.
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