Fortum, Seabased to begin construction of wave power park in Sweden
Finnish utility Fortum has signed a contract with Seabased for the construction of a joint wave power park in Sotenäs, Sweden.
The total investment for the project is about €25m ($33m), of which Fortum's share is about half.
Seabased, will start serial production of buoys,generators, substations and converters in the first half of 2012 at a factory to be established in the Lysekil municipality in Sweden.
The firms aim for marine installation of the first 42 wave power buoys and related equipment during autumn and winter of 2012.
Phase-two installations are planned to be take place after a research period of about one year.
Upon completion, the wave power park installed in a half a sq km area will consist of 420 buoys, with a total output of about 10MW.
The plant is scheduled for completion in 2014-2015.
The Swedish Energy Agency has decided to grant investment support for the project.
Furthermore, Fortum is also participating in the Finnish Waveroller development project, in which wave energy is converted into electricity close to the shore.
The project's goal is to build a 300kW demonstration plant during 2012 in Peniche, Portugal, to produce electricity for the grid.
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