OPT  PowerBuoy

In the aftermath of the 2011 earthquake, tsunami and Fukushima nuclear power plant disaster, Japan is looking for renewable energy sources to provide a higher percentage of its electrical power production. One upcoming project involves a partnership between U.S.-based Ocean Power Technologies and Japan’s Mitsui Engineering & Shipbuilding Co.. The companies have announced that Ocean Power has received a $2.6 million contract to provide the final design and key components of one of the company’s PowerBuoy wave-energy systems intended for deployment off the coast of Japan. The installation is intended to demonstrate the technology’s utility application in local sea conditions.

The project follows development and design work completed earlier this year. In addition, the new contract falls under an agreement between OPT and MES to partner on PowerBuoy development and commercialization in Japan and six other international markets.

The Japanese Environment Minister has said that Japan’s strategy is to increase the present generating capacity of renewable energy in Japan by more than six times. The Japanese government specifically identified wave power as a component of this policy, setting a goal of 1,500 MW in new power generation capacity by 2030 using wave and tidal power sources.

source: Ocean Power Technologies

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