European Commission has backed the Swedish wave energy developer CorPower Ocean with €4 million for its WaveBoost project.
The grant will support a three-year innovation program targeting significant improvements in the reliability and performance of wave energy converters by using pneumatic components in combination with advanced control technology, CorPower informed.
The project is expected to increase energy production, reduce CAPEX and improve grid integration of wave energy farms, resulting in a reduction in the cost of energy of up to 30%, according to CorPower.
Patrik Möller, CEO at CorPower Ocean, said: “WaveBoost was selected based on its outstanding technology and the capability of CorPower and its partners to deliver. This programme will help increase Europe’s competitiveness in the race to harvest energy from our oceans.”
WaveBoost project brings together renewable energy leaders from Sweden, Scotland and Portugal, including the utility company EDP, the European Marine Energy Centre (EMEC), WavEC Offshore Renewables, the University of Edinburgh, SP Technical Research Institute, PMC Cylinders, GSHydro and CorPower Ocean.
Oliver Wragg, Commercial Director at EMEC, added: “The aim of WaveBoost is to instigate a step-change improvement in the reliability and performance of wave energy drive trains. The outcomes from this project could benefit the entire sector. EMEC will be carrying out performance testing and will provide a statement of performance to validate the results.”
In 2015, following the initial support from the Swedish Energy agency and InnoEnergy, CorPower Ocean was awarded a contract from Wave Energy Scotland.
The company is currently performing dry testing of its next wave power plant in Stockholm, Sweden. Following full qualification, this system will be installed at EMEC in Scotland during first half of 2017.