The Federal Energy Regulatory Commission has given a preliminary permit to OPT for the development, operation, and ownership of up to 50 mW of power generating capacity. PNGC a power cooperative which supplies power to 7 states in the western United States will provide funds to install the first device at the site as well as under the terms of the agreement having the opportunity to work together on further construction at the wave park up to 50 mW. PNGC will also have options to gain ownership or purchase power once the project enters the commercial phase.
John Prescott PNGC Power President and Chief Executive Officer had the following to say concerning the project: “As PNGC Power strives to maintain competitive prices and reliable service for its members we are increasingly looking at promising new technologies to meet load growth," "Our participation in the development of the Reedsport OPT Wave Park demonstrates our member cooperatives’ commitment to explore alternative energy resources.”
Dr. George W. Taylor, Chief Executive Officer of OPT, was quoted as saying: "We are pleased that PNGC Power has pledged their support for this project and to be working cooperatively with them. PNGC Power has demonstrated the vision and leadership to harness our Earth’s most powerful and consistent natural resource – the ocean."
For additional information:
http://www.oceanpowertechnologies.com/
http://www.pngc.com/
