EU Grants € 17 Million for Wave Energy Research Project

Penguin wave energy device
Wello Penguin Wave Energy Converter in action in Orkney. Image courtesy of Wello.

The European Commission’s research and innovation programme Horizon 2020 has granted EUR 17 million(U.S. $19.3 million) in funding for the Clean Energy From Ocean Waves (CEFOW) research project that is coordinated by Fortum. The mission of the five-year project is to research and develop the use of the Penguin wave energy converter, developed by the Finnish company Wello, in electricity grid connected ocean conditions. The multi-device test project will be carried out at Wave Hub, the wave energy-focussed test centre, located in Cornwall, Great Britain, where Fortum has a leased sea area.

In the project, Finnish wave power technology is being developed and operated in collaboration with British and Swedish experts. The EU has granted EUR 17 million (U.S. $19.3 million) of the project’s total budget of EUR 24.5 million (U.S. $27.8 million). In addition to Fortum, the joint project consists of Wello Ltd, Mojo Maritime Ltd, Wave Hub Limited, Green Marine (UK) Ltd, Uppsala University, Plymouth University and the University of Exeter.

“Wave power may play an important role in the future as an emissions-free energy production form, and that is why Fortum is participating in the research
and development efforts. By this project we are expecting to increase our capabilities and skills in the field of wave power. We believe that the funding from the European Commission and the experienced collaboration partners create excellent conditions for making great strides forward in commercializing Wello’s wave power technology,” says Heli Antila, Chief Technology Officer at Fortum. “On a global scale, this project is at the vanguard of wave power research,” Antila goes on to say.

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This post was prepared by Solar Thermal Magazine staff.

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