Victorian Wave Partners is developing a wave power station demonstration project off the coast of Victoria near the city of Portland. The wave power station is planned to be built in three distinct stages ultimately providing a total capacity of 19 megawatts.
The Federal Government of Australia has awarded the project a A$66.46 million grant under its Renewable Energy Demonstration Program whose objective is to encourage new renewable energy technologies.
The grant is subject to a Funding Deed, which sets out the terms of the grant including funding milestones that require significant additional funding to enable receipt of grant funds and the completion of the project. Victorian Wave Partners is wholly owned subsidiary of Ocean Power Technologies Australasia.
The 19 megawatts project will be sufficient to fulfil the energy needs of approximately 10,000 homes. Working with suppliers in Australia, VWP will build the wave power station to provide clean, renewable wave energy to a grid which currently relies heavily on fossil fuel generated power. Read More ->