Swedish energy company Seabased Industry and Finnish energy giant Fortum have received approval and financing from the Swedish Energy Agency to create the world’s largest renewable wave power installation.
The plant, to be located off the coast of Smögen in Sotenäs, Sweden, will consist of 400 to 500 interconnected wave power units. Upon completion the estimated installed power will be approximately 10 MW.
The Swedish Energy Agency will also be providing significant financial support to the project by contributing roughly $19 million (US) of the total investment of approximately $34 million.
The plant will be the largest of its kind in the world.
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