"Achieving practical completion of the bioWAVE is a major milestone in the development of this technology," said BioPower Systems CEO Dr. Timothy Finnigan.
"We look forward to seeing it operating in the Southern Ocean, developing the next generation machine and exploiting the technology around the world," he added.
The project is supported by an $8.1 million (€7.3 million)grant from the Australian Renewable Energy Agency, a $3.7 million (€3.3 million) grant from the Victorian Government and equity from the company.
The bioWAVE consists of a 26-metre tall oscillating structure that sways back-and-forth beneath the ocean swell, capturing energy from the waves and converting it into electricity fed into the grid via an undersea cable.
The structure is scheduled for deployment at Port Fairy in Victoria Australia later this year. The data collected from the project, combined with the experience gained, is expected to help drive down the cost of wave energy, and contribute to further development of the bioWAVE towards commercial production.
During infrequent extreme wave events, the structure will automatically assume a "safe" position lying flat against the seabed. This reduces the structural design requirements (and hence cost) while maintaining reliability, the company said.
ARENA CEO Ivor Frischknecht said the $15.5 million (€11.4 million) project would further cement Australia's position as a leader in renewable wave energy.
"Once successfully installed, it will be the second ARENA supported device to supply wave energy to a major Australian grid, feeding 250 KW into the National Electricity Market," Frischknecht said.
For additional information:
