Feds approve license for wave-energy park

August 21, 2012 by admin  
Filed under Ocean Energy

REEDSPORT — A wave energy company that plans to build a 30-acre ocean energy power station off Reedsport has received a green light from the Federal Energy Regulatory Commission.

Last week, FERC granted Ocean Power Technologies the first license for a wave power station in the United States. If completed, OPT’s 10-buoy park will be the first commercial wave energy operation in the country, according to OPT.

Receiving the 35-year FERC permit marks a big step forward, but it does not guarantee the wave energy park will be built. The company first must test its technology at the park’s proposed site, about 2.5 miles off Reedsport.

‘Right now, we’re moving forward with Phase 1,” said Gregory Lennon, OPT’s senior director for business development.

Test starts in October

In October, OPT plans to launch a test buoy. It will check whether enough power can be generated to support a wave park. According to the FERC permit, the company has two years to test its first buoy. If the test succeeds, OPT must deploy the remaining nine buoys within five years.

However, all that is contingent on the company’s receiving additional permits to connect the power station to the electrical grid in Douglas County.

OPT also needs funds to build the park.

So far, half of the $9 million project has been funded by a grant from the U.S. Department of Energy. Most of that money has gone for research and building prototypes, Lennon said.

Private project

The company hopes the actual park will be financed and, eventually, owned by a utility company or some kind of private equity fund. But OPT first must prove its technology is profitable.

‘They want to see performance history,” Lennon said.

‘Ideally, they want to see some certainty of production capability.”

The proposed ocean station should generate 1.5 megawatts of power, enough electricity for 1,000 homes.

OPT has tested a similar buoy off the coast of Scotland, Lennon said. It has been developing the Reedsport project for about five years. In that time it negotiated a settlement with 11 federal and state agencies and three non-governmental organizations outlining an adaptive management plan for the power station.

Crabbers’ doubts

The agreement was important because Oregon had no procedure for considering ocean power technology. The state is developing those guidelines to include in its territorial sea plan.

Still, the project is met with skepticism from local fishermen, as the proposed energy park will be located in prime crab habitat, said Nick Furman, director of the Oregon Dungeness Crab Commission.

‘It is an area with a soft sandy bottom,” Furman said. ‘That is crab habitat and important real estate.”

Furman said local fishermen have come to terms with the proposed park’s location, and view the project as a test site.

‘Until we get some buoys in, all opinion is sort of conjecture,” Furman said.

‘But anything over 10 buoys is going to be met with a significant negative reaction from the crab fleet.”

Reporter Jessie Higgins can be reached at 541-269-1222, ext. 240, or jhiggins@theworldlink.com.

Article source: http://theworldlink.com/news/local/feds-approve-license-for-wave-energy-park/article_585a9bc2-eb0c-11e1-ad7b-0019bb2963f4.html

Ocean Place Getting Energy Efficient Upgrades

April 10, 2012 by admin  
Filed under Ocean Energy

From Ocean Place Resort and Spa:

Lime Energy Co. announced this month that Ocean Place has signed a partnering agreement under the NJ Clean Energy’s Pay for Performance (P4P) to help identify and implement energy reduction and conservation measures to help reduce the resort’s consumption by a minimum of 15 percent. Consisting of 254 guest rooms and event space, Ocean Place was built in 1989 and encompasses 255,000 square feet.

The investment grade audit follows Lime’s preliminary audit which identified energy conservation measures and infrastructure upgrades that would save Ocean Place over 35 percent in annual energy consumption. Lime Energy’s analysis will also establish those measures that qualify for NJ Clean Energy P4P incentives.

“Lime Energy has completed the largest P4P clean energy project in New Jersey to date,” said Al DiGuilio, Vice President of Energy Efficiency. “The combination of Lime’s clean energy expertise and experience with the P4P program with Ocean Place’s commitment to improving their facility will result in another best-in-class energy project in New Jersey.”

According to Ocean Place’s Director of Engineering Dan Walradt, environmental awareness and concern has become a significant factor in the decisions they make on a daily basis.

“Many of our clients express interest in understanding the initiatives we are taking to reduce our carbon footprint,” Walradt said. “With over 250,000 square feet of conditioned space, Ocean Place can play a significant role in energy conservation.”

“Of course, it is equally important that the energy conservation measures (ECM’S) make financial sense for the business and operating expenses,” he continued. “The Pay for Performance program will be a great fit for Ocean Place since it will have a positive impact on both.”

The P4P audit will evaluate every area of the building from the envelope down to each piece of mechanical equipment that consumes energy. The project will be part of a large renovation planned to begin this fall.

“We know how important it is that we do it right, and take everything into consideration when selecting replacement equipment and control systems,” Walradt said. “We are very excited to move forward on our vision of being an industry leader in our market as well as being a positive role model in our community.”

Article source: http://longbranch.patch.com/articles/ocean-place-getting-energy-efficient-upgrades

Marine Scientists Discover New Chemosynthesis Process In “Mussel Power”

August 13, 2011 by admin  
Filed under Featured, Ocean Energy


Researchers from the Max Planck Institute of Marine Microbiology and the Center for Marine Environmental Sciences (MARUM)  have discovered a third form of energy that powers the likes of certain mussels, shrimp, and worms found in the surroundings of hydrothermal vents. Earlier discoveries of chemosynthesis at the vents included sulfur oxidation and methane oxidation systems, but now it appears that the creatures oxidize hydrogen too - and a lot of it!

Hydrothermal vents spew hot minerals into the sea from newly formed crusts in the earth: © MARUM
Hydrothermal vents spew hot minerals into the sea from newly formed crusts in the earth:
© MARUM

Discovered some 30 years ago, hydrothermal vents are created at the depths of the ocean floors where tectonic plates have shifted and, like an underwater volcano, spurt tremendously hot, dissolving minerals into the sea.  As hot as 400°, the inorganic compounds delivered by the liquid minerals provided energy for life through a process called chemosynthesis.

The first two sources of energy discovered to power chemosynthesis at hydrothermal vents were hydrogen sulfide and methane, each utilized by animals with symbiotic oxidation systems. But this latest discovery led by the Max Planck Institute found that the deep vent mussels, shrimp, and the giant tubeworm at Logatchev, a vent field halfway between the Caribbean and the Cape Verde Islands on the Mid-Atlantic Ridge, were powered by hydrogen.

Assisted by remotely-driven submersible excavators, researchers took live samples on board their ships and conducted experiments showing that the mussels consumed hydrogen. In their land-based labs, they discovered that the mussels had a key enzyme for hydrogen oxidation, the symbiont hydrogenase.

Mussels at the Logatchev hydrothermal vent site are powered by hydrogen: © MARUM
Mussels at the Logatchev hydrothermal vent site are powered by hydrogen:
© MARUM

In fact, the hydrogenase proved to be more powerful than the hydrogen sulfide and methane in converting geofuels to biomass in the Logatchev region. One researchers estimated that the population of some 1/2 million mussels could be consuming up to 5,000 liters of hydrogen per hour.

Maybe some day we will run our cars on mussel power….

Article source: http://inventorspot.com/articles/marine_scientists_discover_new_chemosynthesis_process_mussel_pow

Philippines set to have first ocean energy plant by 2018

July 6, 2011 by admin  
Filed under Ocean Energy

The Department of Energy (DoE) expects the Philippines’ first ocean energy facility to start commercial operations by 2018.

Data from the National Renewable Energy Plan book showed that the first project to go into operation will be the 10-megawatt Cabangan ocean energy thermal conversion (Otec) project in Zambales.

The Cabangan project is one of 20 indicative power projects, which are expected to require a combined P11 billion in investments.

“While the country is endowed with vast ocean resource potential, there have been very limited activities in this sector. This is primarily because of the high investment cost for its exploitation,” the DoE said.

A study conducted by the Mindanao State University indicated that the country, being an archipelago, has a theoretical capacity of 170,000 megawatts over a 1,000 square kilometer ocean resource area.—Amy R. Remo

Article source: http://business.inquirer.net/5853/philippines-set-to-have-first-ocean-energy-plant-by-2018

Ocean energy can play important role in renewable resources mix

June 25, 2011 by admin  
Filed under Ocean Energy

Renewable technologies could supply the world with more energy than it would ever need and at a very competitive cost, avers Steve Sawyer, secretary-general of the Global Wind Energy Council.

He adds that ocean energy may play a very important role in the future. Ocean energy derives from the potential, kinetic, thermal and chemical energy of seawater, which can be transformed to provide electricity, thermal energy or potable water.

According to the Intergovernmental Panel on Climate Change (IPCC) report published recently, several technologies are possible, such as submarine turbines for tidal and ocean currents, heat exchangers for ocean thermal energy conversion, and a variety of devices to harness the energy of waves and salinity gradients.

Ocean technologies, with the exception of tidal barrages, are at the demonstration and pilot project phases and many require additional research and development. Some of the technologies have variable energy output profiles with differing levels of predictability (for instance, wave, tidal range and current), while others may be capable of near-constant or even controllable operation (for instance, ocean thermal and salinity gradient).

Tidal Power Plant in Northern Ireland
Sabine Sauter writes in Pictures of the Future about “tapping invisible rivers”.  Tidal flows represent a largely untapped source of clean energy.

Located off the coast of Northern Ireland, the world’s first commercial tidal current power plant is producing electricity for 1 500 household using energy generated by high and low tides. The Strangford Lough plant is operated by Marine Current Turbines, a British company in which Siemens acquired a 10% interest in 2010. The facility is similar to a wind turbine, the only difference being that it is driven by water instead of air. Each of its two drivetrains weighs 27 t and is equipped with a rotor 16 m in diameter.

The rotor blades can be turned through 180º, which means they can produce electricity for up to 20 hours a day regardless of whether the tide is coming in or going out.

The tower to which the two propeller turbines are attached through a cross member has a diameter of 3 m. Depending on the tide, the tower can protrude as much as 20 m above the sea. The rotors cannot be seen above the water – and it is even possible to take a small boat directly past the turbine because the rotors are located at least 3 m below the surface.

Although extensive installation costs make an investment in tidal current power plants around twice as high as those for offshore wind power facilities, the resulting electricity offers several benefits. For example, the energy density of water is 800 times higher than that of wind, which makes gene- rating electricity with water much more efficient. A 1,2 MW tidal plant like the one at Strangford Lough can produce as much electricity in a year as a 2,5 MW offshore wind turbine. The electricity yield from tidal facilities is also more precisely calculatable, which enhances planning security. After all, tidal currents are determined by the moon and the earth’s gravity, so they are not dependent on the weather and can be predicted years in advance.

The International Energy Agency estimates the global output potential of tidal power plants to be as high as 800 TWh/y, which is enough to supply 250-million households with electricity.

Marine Current Turbines continues to invest in tidal technologies. Besides other things, the company plans to start building a tidal turbine park near the Isle of Skye, in north-eastern Scotland, in 2013.

When it is complete, the facility will supply up to 4 000 households with electricity from the sea.

Article source: http://www.engineeringnews.co.za/article/ocean-energy-can-play-important-role-in-renewable-resources-mix-2011-06-24

On the path to clean energy

June 25, 2011 by admin  
Filed under Ocean Energy

The Southeastern Massachusetts region is positioning itself as a serious player in the growing clean energy industry, working to build an active supply chain for clean energy developments, even as the industry itself struggles to build momentum.

A recent clean energy study put Massachusetts third overall in the country in terms of clean energy development and, while the state’s southeast region may not be the driving force for that ranking, it also doesn’t plan to be left out.

“Conversations have begun with companies not just in the offshore renewable space, but in solar or whatever,” said Matthew Morrissey, executive director of the New Bedford Economic Development Center. “New Bedford is on the map as a player in a space that a lot of companies want to be in right now.”

While Morrissey and other city and regional officials are working to have multiple renewable energy resources represented, the biggest success to date has been in offshore wind energy with the city’s selection as a staging area for Cape Wind.

In fact, much of the anticipated regional growth hinges on the fortunes of the country’s first fully permitted offshore wind farm, a project that has faced numerous hurdles, but may still get in the water in 2012.

Although facing litigation and without financing, Cape Wind spokesman Mark Rodgers said the 130-turbine project expects to begin installation next year. At a June 16 Council on Sustainability meeting in Fall River, Rodgers didn’t seemed concerned about litigation, calling efforts “the last play of our opposition;” but, said securing financing has been difficult.

“(Financing) is a major challeng-It’s going to take some time and effort,” he said.

Rodgers said the New Bedford staging area, a $35-million port facility to be built on the city’s waterfront, needs to be ready in time for Cape Wind installation.

That won’t be a problem, according to Morrissey, who said the project is in the engineering stage and ground is expected to be broken this fall.

“That project is moving forward,” said Morrissey. “We’re much more concerned with Cape Wind’s need to finalize their program…The remaining 50 percent of power has to be worked out as well as financing.”

The port facility, on New Bedford’s active waterfront, will do more than just help the city get its foot in the clean energy door, it will also let the city leverage its working port, boosting its import and export trade business, according to Harbor Development Commission director, Kristen Decas.

Decas said the city is also tracking other offshore wind developments along with tidal energy keeping an eye on how the port can play a role in supporting development.

“We’re a sleeping giant and we have huge room for using this asset,” said Decas, about the harbor. “This facility will put us on the map for a variety of future opportunities in offshore energy development.”

Middleboro manufacturer, Mass Tank, will also benefit from offshore wind project, shifting its past expertise building steel tanks for the oil industry into building monopoles for wind turbines. Mass Tank, through its ECO Fab partnership, will build a new manufacturing plant, to supply steel structures to Cape Wind and other offshore wind developments. The plant is expected to employ at least 300 people.

Although the specific location of the facility is unknown, reports have suggested both Quincy and New Bedford are in the running.

According to Morrissey, opportunities for Mass Tank still exist in New Bedford but the decision will depend on whether or not the city can provide a site that meets Mass Tanks’ specific needs.

“They’ve been very clear all along, they would like to be in New Bedford,” Morrissey said in mid-June. “They’re from here; they’d like to be here and it is less expensive to do business here. The question is that the characteristics of the site that is required for the activity are not immediately available.”

While other industries continue to grow in the state, including solar which increased 20-fold between 2007 and 2010 according to Mass CEC, Massachusetts’ clean energy future may depend on offshore wind, according to some experts.

Offshore wind may be the state’s best resource or at least the best one that is technologically ready for implementation, according to Ron Pernick, co-founder and managing director of Clean Edge, an Oregon-based clean-tech research firm.

Pernick said Massachusetts is at a geographic disadvantage when it comes to producing renewable energy, compared to other states that have heavy wind or lots of sun.

“Massachusetts doesn’t have the wind resources on land like these other places,” said Pernick, citing states like Iowa and North Dakota, which are producing 15.4 percent and 12 percent of their electricity through wind respectively.

In Clean Edge’s leadership index, released in May, Massachusetts got high marks in categories like policy, venture and human capital, and clean energy patents, but still scored in the lower half of the country when it comes to energy production.

The state placed third overall, below California and Oregon.

The production category represents technical deployment including how much wind power, solar, biofuels, geothermal and other energy sources are in use, as well as the number of electric vehicles on the road, according to Pernick.

Still, Pernick, said, the Cape Wind project has the potential to change everything for the state.

“If you bring the Cape Wind project online, if you develop offshore wind and tidal energy, you’ll see yourself move up,” he said, referring to the state’s positioning.

And, while offshore wind is new to the state, it isn’t a new technology. There are more than 40 offshore wind farms off the European coast, according to Rodgers.

That’s different from ocean energy which is a relatively untested technology, Pernick said.

“I think, over time, wave and tidal energy offer significant promise, but I think it’s further out than a five year timeline,” he said.

At the Marine Renewable Energy Center in New Bedford, director John R. Miller believes ocean energy, including offshore wind, is the state’s alternative energy future.

“I always tell people that solar energy and biofuel are two things that are of great interest to venture capital people in Boston€but if you think of somebody who wants to build a big solar energy plant, they’re more likely to do it in Arizona or Spain where there’s a lot more sunshine,” said Miller. “If you look at what resource we actually have — the ocean is a resource that is literally on our doorstep.”

Miller said ongoing efforts to develop new ocean technologies, even if they are not created here in Massachusetts, will still need to be built and maintained locally. So it’s important that the region begin taking steps to develop a workforce and build a supply chain for the industry, he said.

Some of that is already happening through the Southeast Development Partnership, out of UMass Dartmouth, Miller said.

“They’re looking at all the pieces in the supply chain,” said Miller. “(Questions like,) what do we have now, what are we going to need in five years, and how can we convince the company who is manufacturing cables, for example, to locate in the Southcoast?”

While offshore wind may be the state’s bright future, it is also one of the most controversial forms of renewable energy, along with land-based wind, according to David McGlinchey, of the Manoment Center for Conservation Sciences.

As senior program leader for energy, McGlinchey said he participates in many conversations about wind energy and development projects. He wants to lessen the controversy by helping projects strike a balance between energy benefits and environmental and quality-of-life impacts.

“The challenges from my perspective are not technical, they’re social,” said McGlinchey. “There are real benefits (to wind projects), but they also have an impact. The key is balancing that, finding appropriate sites that balance benefits and impacts.”

McGlinchey said the Manoment center is putting together a guide, to be released in September, to help municipalities create bylaws based on the science behind wind and their own local values.

“It will give them the tools they can use to build an effective bylaw,” he said.

Despite frequent wind opposition, McGlinchey said he believes people are becoming more supportive of renewable energy ventures.

“I feel very confident that (issues) can be worked out. I think we’re getting better at it,” he said. “The vast majority of people in these conversations inherently want to find solutions. The key is having a reasonable, informed conversation which is not easy.”

Rodgers too said public opinion has shifted in the last few years. Despite a slightly battle-weary tone, he spoke very positively about clean energy technology and its potential impact on the region.

“A sustainability cluster is starting to take shape,” he said. “We have the makings to be one of those clean energy global hot spots.”

Article source: http://www.southcoasttoday.com/apps/pbcs.dll/article?AID=/20110624/NEBULLETIN/107040301/1036

Ocean Energy on the Verge of Rapid Growth?

January 6, 2011 by admin  
Filed under Ocean Energy

Is the global ocean energy industry at a turning point? With all the attention focused on energy efficiency and smart grid, and with more mature renewable sectors like wind struggling, we haven’t heard much about ocean energy in the last year or two.

Financing is tight and venture capital is extra-cautious as the world struggles to get through this tough recession. It’s not the best time for a new industry to gain footing.

High initial costs and long development lead times makes the industry dependent on government support. Ocean energy has received much less support than solar or wind, but that could change. Costs are high because prototypes must stand up to ocean storms, and in the U.S. they must navigate a confusion of overlapping offshore permitting authorities.

After only a dozen wave and tidal prototypes were installed in 2009, more than 45 projects will have been tested in 2010 and 2011, according to IHS Emerging Energy Research. If these prototypes are successful, IHS believes the global ocean energy project pipeline is poised to begin scaling. They estimate that more than 1.8 GW of ocean projects in 16 countries are currently in the pipeline.

Ocean Energy

Could Ocean Energy be Problematic for Marine Life?

But concerns are surfacing that the electro-magnetic fields created by tide and wave generators (and the cables that bring their electricity to shore) could interfere with the natural guidance systems used by marine life.

Salmon, sharks, sea turtles, lobsters and crabs are among the marine life that use internal compasses that rely on the Earth’s magnetic fields. They travel thousand of miles each year using the earth’s magnetic fields to navigate. Ocean energy machines might also produce a low hum that could interfere with communication among whales. It’s long been known that the use of military sonar poses a deadly threat to whales, many of which have been found dead or dying following massive sonic blasts.

Research hasn’t been done on how these power devices affect the marine environment.

Promise for Energy Supply

The Northwest Power Planning Council estimates ocean energy could eventually supply 10% of US energy, with 50,000 MW off the Northwest coast, equal to the output of 50 nuclear plants.

Other sites under consideration are off the coast of Maine, Hawaii, Alaska, Florida and in the Mississippi River near Baton Rouge.

Thanks to government policy support, the UK holds the lead in ocean energy - 300 MW of projects are in the pipeline to be installed over the next five years. The UK wants to add 1.3 GW by 2020 to help meet its legally binding 2020 renewable targets. Ireland, France, Portugal, South Korea and Australia are also key ocean energy markets and will remain the industry’s primary focus for the next decade, according to IHS.

And it’s not just tiny, start-ups that are pushing the field forward. A slew of established energy firms, including leading European utilities and global technology suppliers with hydro and offshore wind experience, are interested in establishing leadership positions.

Of the various forms of ocean energy, tidal energy is poised to mature first because it offers the promise of predictable, lower-cost electricity and a standard design.

“The strong synergies between tidal turbine manufacturing and the hydropower industry have attracted major power sector OEMs,” says IHS Senior Renewable Power Analyst Marianne Boust. “Over the past two years, all three of the major hydropower turbine vendors - Andritz Hydro, Alstom Hydro, and Voith Hydro - who account for over 80 percent of the global hydro turbine supply, have jumped into the tidal sector.”

Because these large hydro players see tidal energy as a synergistic growth opportunity, they are crucial to catalyzing quick development and commercialization of the tidal industry. They could help the ocean energy industry overcome its technological challenges and drive down costs.

Key companies that are active in scaling Europe’s offshore wind industry are also eyeing ocean energy as they scale their renewable portfolios. Iberdrola-ScottishPower, Vattenfall, RWE and SSE all have a strong presence in offshore wind. Each is broadening to include ocean energy. A few have taken equity stakes in ocean technology firms, but most are funding project development through joint ventures.

Ocean Power Technologies Leads

The only pure-play publicly traded company in ocean energy is Ocean Power Technologies (OPTT), which is developing the first commercial scale wave energy system in the US off the coast of Oregon. The 1.5MW wave energy system, which will power about 1000 homes, is expected to be deployed in 2011.

In September, OPTT received $4.8 million in funding from the US Department of Energy, on top of $2 million it received in 2008. They are using the funds to construct the Oregon project and to develop its next generation 500kW system, which will have greater power extraction efficiency. The company is also focused on implementing a “Design-for-Manufacture” approach and reducing maintenance costs, to achieve lower installed capital and energy costs and make wave power more competitive with fossil fuels.

Also in September, OPTT connected a wave energy device to the US grid for the first time at the US Navy’s Marine Corps Base in Hawaii. The connection demonstrates the ability of wave systems to produce utility-grade, renewable energy that can be transmitted to the grid.

The Navy has supported Ocean Power’s technology development through its $15 million Littoral Expeditionary Autonomous PowerBuoy (LEAP) program. OPTT is providing an autonomous wave energy conversion system for the Navy’s near-coast anti-terrorism and maritime surveillance program.

OPTT is also working with Mitsui Engineering Shipbuilding Co to apply its technology off the coast of Japan. In October 2009, a Japanese consortium signed a MOU to develop wave energy in Japan.

++++

The IHS study, Global Ocean Energy Markets and Strategies: 2010-2030, analyzes the various ocean technologies and companies and the potential size and timing for ocean energy scaling.

Source: Sustainable Business

Article source: http://uk.ibtimes.com/articles/20110105/ocean-energy-verge-rapid-growth.htm

Wave energy ‘could create 52000 jobs’

January 5, 2011 by admin  
Filed under Ocean Energy

Wave energy 'could create 52,000 jobs' Nearly 70,000 jobs could be created if Ireland’s ocean energy sector is fully developed and meets the government’s 2020 renewable targets, a new report says.

According to SQW Energy’s Economic Study for Ocean Energy Development in Ireland, which was commissioned by the government’s Sustainable Energy Authority of Ireland and Invest Northern Ireland, wave energy could generate up to 52,000 employment positions, while tidal energy could result in 17,000 jobs, the Irish Times reported.

The all-Ireland ocean energy sector could be worth about EUR9 billion, the report suggests.

An “appropriate level of investment” in the sector could provide “long-term sustainable growth and wealth creation”, it added.

In November last year, An tSl Ghlas - The Green Way, which is composed of green industry firms, third level institutions and local authorities, predicted that Ireland’s green sector will create about 10,000 jobs over the next five years.

An tSl Ghlas, the country’s first green economic zone, is based in Dublin.
ADNFCR-2470-ID-800326089-ADNFCR

First US Commercial Tidal Power Plant Proposed for New York City’s East River

January 3, 2011 by admin  
Filed under Ocean Energy

January 3, 2011

We are extremely excited about the submission of this license application, stated Ron Smith, CEO of Verdant Power. It represents the culmination of nearly a decade of work undertaken by Verdant Power and a variety of project stakeholders to add tidal power to the US clean energy mix.

Entitled the Roosevelt Island Tidal Energy (RITE) Project, the initiative has been Verdant Powers signature effort to commercialize its Free Flow kinetic hydropower system, which utilizes three-bladed turbines deployed in fast-moving tides and rivers to generate clean energy. During 2006-08, Verdant Power successfully demonstrated a Free Flow System comprised of six full-scale turbines, delivering energy to businesses in New York City with no power quality problems.

Verdant Power would install an advanced, 5th Generation Free Flow System through the proposed pilot project an updated design enhanced for system reliability, cost-effective manufacturing and environmental compatibility. The US Department of Energy (DOE) provided partial funding for this advancement, specifically the design and testing of a new composite turbine blade in partnership with the DOEs National Renewable Energy Laboratory, Sandia National Laboratories, and the University of Minnesotas St. Anthony Falls Laboratory. Major funding for the development of the RITE Project has been provided by the New York State Energy Research and Development Authority (NYSERDA) and the New York City Economic Development Corporation.

The license application has been submitted under FERCs Hydrokinetic Pilot Project Licensing Procedures, established to allow for the advancement of US hydrokinetic technologies (tidal, river, wave power), while maintaining FERC oversight and agency input. The application was prepared by Verdant Power with support from Kleinschmidt Associates and outlines the companys plans to meet FERC requirements for installation and operation, including environmental monitoring and public safeguarding. Verdant Power conducted environmental monitoring of the Free Flow System during the six-turbine demonstration at the RITE Project, developing significant environmental data on the technology that showed no evidence of increased fish injury or mortality in the demonstration area. Verdant Power would continue environmental monitoring plans, developed in conjunction with federal and state resource agencies, during the proposed pilot project to study any impacts of the larger field, which is planned for incremental installation beginning in late 2011, pending approvals.

Verdant Power

Verdant Power was established in 2000 and is headquartered in New York, NY, with international subsidiaries in Canada and the United Kingdom. Verdant Power is a world leader in the design and application of marine renewable energy systems, which utilize underwater turbines to generate clean energy from the currents of tides, rivers and manmade channels all highly predictable energy resources. Simple and modular in design, Verdant Power systems can be scaled to operate in a wide range of water settings worldwide.

Verdant Powers leadership position is demonstrated by its Roosevelt Island Tidal Energy (RITE) Project in the East River of New York City. Through this groundbreaking initiative, the Company installed and operated the worlds first array of grid-connected tidal turbines.

Article source: http://www.renewableenergyworld.com/rea/partner/ocean-renewable-energy-coalition-4809/news/article/2011/01/first-us-commercial-tidal-power-plant-proposed-for-new-york-citys-east-river

OPTT Ocean Power Technologies among “Stocks to watch at NASDAQ”

January 2, 2011 by admin  
Filed under Ocean Energy

Ocean Power Technologies, Inc. (Public,NASDAQ:OPTT) decreased -6.72%, to close at $5.69 and its overall traded volume was 128,998.00 shares during the last session against its average volume of 47,290.00. OPTT opened the day at $6.03, it made an intraday low of $5.69 and an intraday high of $6.03. The stock has a 52 week low of $4.55 and 52 week high of $9.67. OPTTs market capitalization is 59.28M and it has 10.42M outstanding shares.

About Ocean Power Technologies, Inc. (Public,NASDAQ:OPTT)

Ocean Power Technologies, Inc. develops and is commercializing systems that generate electricity by harnessing the renewable energy of ocean waves. The Company markets and sells its products in the United States and internationally. It offers two products as part of its line of PowerBuoy systems: a utility PowerBuoy system and an autonomous PowerBuoy system. Its autonomous PowerBuoy system is designed to generate power for use independent of the power grid in remote locations. The Companys customer base for its utility PowerBuoy systems consists of public utilities, independent power producers and other governmental entities and agencies. Its customer base for its autonomous PowerBuoy systems consists of different public and private entities that use electricity in and near the ocean.

(article edited/adapted from its entirety that can be read at the link below.)


Article source: http://www.savvystockpicks.com/stock-updates/2010124700-optt-sbny-best-gtls-ntsp-stocks-to-watch-at-nasdaq/

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