N.J. firm signs wave (power plant) deal in Australia

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http://www.upi.com/International_Security/Energy/Briefing/2008/05/20/nj_firm_signs_wave_deal_in_australia/2242/

N.J. firm signs wave deal in Australia

Published: May 20, 2008 at 4:34 PM

PENNINGTON, N.J., May 20 (UPI) -- New Jersey-based Ocean Power Technologies will build a wave power plant in Australia.

OPT, a subsidiary of Ocean Power Technologies Inc., announced it has signed a deal with Australian Griffin Wave Power Ltd., a subsidiary of Griffin Energy Pty. Ltd. The Joint Development Agreement is for the construction and operation of a wave power station off the coast of Western Australia.

Griffin Energy is partnering with OPT's technology to further expand its generation portfolio, which currently includes plans for coal, gas and wind power.

The agreement paves the way for the development of a wave power station capable of producing up to 10 megawatts, with potential expansion to 100 megawatts. The energy generated by the project, planned for the coast off the northern suburbs of Perth, would be fed into the country's main power grid.

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