If you believe THIS! then I've got a nice harbour bridge to sell you as well.
PORTLAND, VICTORIA, AUSTRALIA
Ocean Power Technologies (Australasia) Pty Ltd is seeking to develop a wave power station off the coast of Victoria near the city of Portland. The plant is expected to be built in three phases, with a total capacity of 19 megawatts. The Federal Government of Australia has awarded the project an AU $66.46 million grant under its REDP program to encourage new renewable energy technologies. Using the Australian supply chain, it is expected that a significant number of jobs will be created associated with fabrication, deployment, and maintenance operations over the life of the power station.
The 19 megawatts project will be sufficient to fulfill the energy needs of approximately 10,000 homes. Working with suppliers in Australia, OPT Australasia will build the wave power station to provide clean, renewable wave energy to a grid which currently relies heavily on fossil fuel generated power.
The project may also be scaled up to 100 megawatts, benefiting from permitting and infrastructure achieved in connection with the 19 megawatts project.
Portland, Victoria, Australia
Permitting and consent applications in process; balance of financing for project being sought
Total Generating Capacity:
19 megawatts (scalable up to 100 megawatts)
PB150 and PB500
5 Undersea Substation Pods and sub-marine power cable to land-based substation
Estimated Annual Generation:
75,000 megawatt hours
Renewable Energy Certificates:
Estimated CO2 Savings:
Victorian Wave Partners
Expected Power Purchasers: Wang King P/L
To be determined