Seabased AB and Fortum are going to construct the world’s largest wave power plant. This is a renewable source of energy, which will provide customer, society as well as other stakeholders with reliable energy.
The Sweden Energy Agency is supporting this mega project with a grant. It was only today, that the full financial support to construct wave power plants at the coast of Smögen in Sotenäs, Sweden was made public.
The total sum that Swedish Energy Agency is providing is SEK 139, 000, 000 of a total of SEK 250, 000, 000. This project is going to be the hugest of its sort in the world.
The Seabased industry technology will be made fully commercialized, both demonstrating and showing the capacity of the technology. The plant will be constituted of around 400 to 500 units linked together. The capacity will be of around 10 MW.
The Swedish Government supports the growth of renewable energy, thereby encouraging Swedish Energy Agency to finance new technologies and making them commercially suitable. There has been another four projects that have been offered grants and this is the fifth and last one for the actual program according to a report submitted May, 2009.
There have been endless research and analysis performed by all the three institutions (Fortum/Seabased and Swedish Energy Agency) before the project was fully approved.
Yet, there is still another permission that needs to be achieved. The Swedish Environmental Authority and the European Unions will have to give their accreditations for construction to take-off.
Source: Press Release