Finanvera’s patented AquaBuOY technology is a system of buoy-generators arranged in scalable clusters. The initial installed capacity is proposed to be 5MW with a planned increase to 100MW.

The investigative permit will allow the firm to examine fisheries, commercial and recreation activities, and public safety in the project area. In addition, the studies will look at visual impact, marine mammal and biological resources, and oceanographic conditions.

Project studies will also involve deployment of a 1.5m diameter buoy to collect wave height and period data to help assess economics, capacity, transmission and other infrastructure needs, the company said in a statement.

Earlier this year, Finavera Renewables was issued a preliminary permit to help develop a proposed 100MW in the US – off the coast of Coos County, Oregon. The permit was granted by the US Federal Regulatory Energy Commission (FERC) and cleared the firm to proceed with a range of environmental, technical and financial studies over three years, after which it could apply for an operating licence.

Finavera Renewables is also developing projects based on the use of AquaBuOY in Portugal and South Africa.