The MoU includes provision for further units to be installed up to a total capacity of 15MW-20MW, and the scheme is to help boost local industrial employment.
Under the terms of the MoU, the state will give grant funding for the first 1.5MW unit and then the larger project is to seek finance through low interest bonds. Financial and development responsibilities for renewables in the state are to be held by the proposed Rhode Island Power Authority (Ripa).
Oceanlinx has tested the wave energy technology in a pilot unit at Port Kembla, Australia.
