6 March 2008 – An agreement on cooperation regarding wave power development was signed yesterday between Sweden’s Vattenfall and Wavebob of Ireland. The two companies will collaborate on bringing prototype wave power devices to readiness for full-scale commercial wave power farms.
The agreement is about further development of Wavebob’s technology and scaling it up to commercial size. There is also a common understanding between the two companies to broaden and deepen the cooperation to include also studies regarding site selection methodology and development of a large demonstration project in future commercial size, 250 MW electricity. Both parties welcome further partners to join the project.
“This is another important step both as a tool to combat climate change and to develop truly sustainable energy solutions for the future” says Lars G Josefsson, president and CEO of Vattenfall.
“We have set up a target to reduce our own CO2 emissions by 50 per cent by 2030 (using 1990 as base year) and we are determined to reach all the way. We know that we need to try all possible ways to get there, and wave power is a part of the solution. Together with our efforts on CCS, investments in wind power, biomass and also increased capacity in existing nuclear power and hydropower plants, I would say that this target seems realistic.”
Lars Strömberg, vice president R&D at Vattenfall explains: “Wave power is now mature to be demonstrated at commercial size. However, we should be patient. Even though this would be a large step forward for wave power, the technology must still be further developed and optimized, and the power system concepts need to be integrated, before the technology can be commercially introduced at larger scale.”
“Our cooperation with Wavebob will make the wheels turn faster. Therefore, I am convinced that we will see the first European large-scale commercial wave power plants in operation in 10-15 years from now.”