Finnish Utility Fortum has been granted EUR 17 million in funding from the EU Horizon 2020 programme for development of a major wave power research project.
EU Horizon 2020 - the European Commission's research and innovation programme - granted the funds for the Clean Energy From Ocean Waves (CEFOW) research project, coordinated by Fortum. The five-year project will research and develop the use of the Penguin wave energy converter, developed by Finnish company Wello, in electricity grid connected ocean conditions.
The multi-device test project will be carried out at Wave Hub, the wave power-focussed test centre in the UK, where Fortum has a leased sea area. In the project, Finnish wave power technology is being developed and operated in collaboration with British and Swedish experts.
The EU has granted EUR 17 million of the project's total budget of EUR 24.5 million. In addition to Fortum, the joint project consists of Wello Ltd, Mojo Maritime Ltd, Wave Hub Limited, Green Marine (UK) Ltd, Uppsala University, Plymouth University and the University of Exeter.
"Wave power may play an important role in the future as an emissions-free energy production form, and that is why Fortum is participating in the research and development efforts," said Heli Antila, Chief Technology Officer at Fortum. "By this project we are expecting to increase our capabilities and skills in the field of wave power. We believe that the funding from the European Commission and the experienced collaboration partners create excellent conditions for making great strides forward in commercializing Wello's wave power technology.
"On a global scale, this project is at the vanguard of wave power research."
