The Spanish electric utility company Iberdrola has announced that it will be participating in a project to develop a high efficiency wave power device.
Iberdrola is partnering with CorPower Ocean, a Swedish company specializing in wave energy converters, and Portuguese marine research centre WavEc, on a high efficiency wave power project called HiWave.
With the three bodies working together, they intend to harness wave power using a new type of compact device with advanced control technology and design an offshore farm based on the said wave energy device.
Under the framework of the project, CorPower will be in charge of designing the device, Iberdrola in the development of the offshore farm, and WavEc in providing analysis and validation support during the various stages.
With an overall budget of around $20 million, the partnership considered it to be one of the most important initiatives of its kind in the field of marine energy. The project is expected to be completed by 2016.
The project is partially funded by the European Institute of Innovation and Technology through one of its knowledge and innovation communities, KIC InnoEnergy.
Iberdrola has been promoting projects based on marine technologies – wave and tidal energy. When it comes to wave energy, Iberdrola is building a plant using the Pelamis P2 technology – a snake-like infrastructure capable of absorbing wave energy and turning it into electricity through a serious of hydraulic cylinders.
As for tidal energy, Iberdrola is partnering with Austrian company Andritz Hydro Hammerfest and the French corporation Alstom in a project totaling up to 10 megawatt in the Sound of Islay, Scotland .