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Finavera selecting site for 20MW South African wave project
April 19, 2007
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reprintFinavera Renewables (TSX-V: FVR) today [ed.: just in time for Earth Day! What a coincidence!] said it's completed the preliminary site evaluation and selection process for a 20 megawatt (MW) wave energy project in South Africa.
A preliminary report has identified priority sites for the estimated $40 million CDN wave energy project, the company said, but it acknowleded it hasn't actually picked a site yet.
“The site selection report confirms the strong wave resource off the coast of South Africa and identifies two areas for potential development. Further work needs to be carried out before a final site selection is made, but we are well on our way to making this project a reality,” said CEO Jason Bak.
Factors apparently being taken into account in assessing potential sites include wave resource potential, distance from potential customers, distance to appropriate ocean depth, proximity to transmission lines, visual impact, and proximity to shipping lanes.
Finavera's study also examines the political and economic climate as it relates to renewable energy, noting the country’s power generation capacity has not kept pace with demand, leading to power shortages in the last three years and rate increases, "creating favorable market conditions for renewable energy," according to the company.
Finavera Renewables is developing the ‘AquaBuOY’ wave energy converter, and is developing wave energy projects in the United States, Portugal, South Africa and Canada (see Finavera first to catch the wave.) The company is also developing wind energy projects in Canada and Ireland.
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Comments
Finavera Renewables
Submitted on April 21st, 2007 by InterestedReaderFinavera Renewables certainly is a company to keep an eye on for future clean energy development. Right now at the incipient stage of wave power, this company is a true pioneer in clean energy. It is not known very well to the public right now but some day hopefully its efforts will become part of recorded energy history.
adrianakau@aol.com
Re: Finavera
Submitted on April 21st, 2007 by Dana ChildsMyke Clark, VP Policy and Public Relations for Finavera, told Inside Greentech, after this story was published, that it will be some five years before the South African site is operational and generating electricity. So keep watching them. And watching...
In the meantime, other ocean energy companies like Verdant and OPD already have devices in the water.
Interested in the sector? Read all of Inside Greentech's water-to-energy coverage here.
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