100 MW California wave project gets prelim. approval

Vancouver's Finavera Renewables (TSX VENTURE: FVR) has been issued a preliminary permit for a proposed wave energy project in Northern California's Humboldt County.

The company previously announced a power purchase agreement with California's Pacific Gas & Electric (see PG&E to ride the waves with Finavera), but that agreement is only for 2 MW.

The scope of the proposed wave energy farm is now 100 MW.

Approval was granted by the United States Federal Energy Regulatory Commission ("FERC"), the body that regulates marine power development in the U.S.

Long known for being stodgy, FERC is now trying to become more responsive to marine power startups (see Marine power companies applaud possible FERC changes.)

The permit allows Finavera to conduct studies including analyses of oceanographic conditions, commercial and recreational activities, and other impacts potentially associated with the planned project.

It has not yet received a FERC operating license, although it does have an operating license for a wave energy project in Makah Bay in Washington State (see Finavera gets federal approval for Wash. wave power.)

Finavera believes the Humboldt County project could become the United States' first commercial wave energy installation, and would use interconnected clusters of the company's AquaBuOY wave energy devices.

In early September, Finavera lost a test buoy off the coast of Newport, Ore., when it took on water and sank.

Finavera is developing wave energy projects in the United States, Portugal, South Africa and Canada.

It also has wind energy projects in Canada and Ireland.

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