17 October 2008 – Spanish utility major Iberdrola and diversified technology group Tecnalia Corporacion Tecnologica have installed the first prototype for producing wave energy on the coast of Guipuzcoa, at the town of Pasajes in the Basque region of Spain. The initiative is under the framework of the €4.5m ($6.1m) Oceantec Project.
This first prototype, made in the scale of 1:4, will be in testing for several months in order to a check its performance and eliminate environmental risks. If the results of the technical testing prove to be favorable, Iberdrola and Tecnalia plan to develop a new device in actual size and connected to the electricity network.
According to Iberdrola, this second installation on which both companies are working will have a power of 500 kW and should be able to produce in one year a quantity of renewable energy sufficient for supplying the domestic consumption of some 950 homes.
The Oceantec Project will enable the generation of business from the development of a renewable energy source, create opportunities for industrial growth and restructuring in the Basque Country and support the use of the energy resource on the coast of the region.