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Article: OPT Deploys PowerBuoy for First Commercial Wave Power Project with Iberdrola.
- Article from:
- Business Wire
- Article date:
- September 23, 2008
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PENNINGTON, N.J. -- Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT) ("OPT") is pleased to announce that it has deployed its first PowerBuoy[R] under contract with Iberdrola S.A, one of the world's largest renewable energy companies, and its partners, at a site approximately 3 miles off the coast of SantoSa, Spain.
First OPT Wave Power Station in Europe
As noted by Iberdrola, the deployment of OPT's PB40 PowerBuoy is the latest milestone toward the building of the world's first commercial utility-scale wave power generation venture to supply approximately 1.39 MW of electricity into Spain's electricity grid. The PB40, ...