www.birminghampost.net
16/7/2009
Warwick is about as far away from the sea as you can get but a company based in the town is playing a key role in helping the UK harness the power of the tides.
The town is home to the European arm of major US-based wave energy company Ocean Power Technologies (OPT) which yesterday announced it had signed a landmark agreement to work on the development of a £42 million wave energy project planned in Cornwall. The company has signed an agreement with the South West Regional Development Agency to work on Wave Hub, one of the world's largest proposed renewable marine energy projects which will see a giant national grid-connected socket built on the seabed off the coast of Cornwall.
The government yesterday announced an investment of £9.5 million for the pioneering Wave Hub project, as it received the official go-ahead from the South West Regional Development Agency. It is believed the project could create more than 1,800 jobs with nearly half of those outside the South West region. OPC's involvement in the Wave Hub project includes plans to build, install and operate a wave power station comprised of its patented PowerBuoy systems generating up to 5MW of electricity.
OPT chief executive Angus Norman said: "OPT has provided strong support to Wave Hub and the South West region's vision to create a world-class centre for the marine energy industry over the past five years. As a result, we are proud to be the first to sign a Commitment Agreement to make this project a commercial reality. "Wave Hub is sure to become a global showcase for wave power technology and means that it is now gaining momentum as a viable source of renewable energy." Wave Hub is expected to generate up to 20MW of renewable energy and can potentially be scaled up to 50MW.
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