Fortum, which focuses on the Nordic countries, Russia, and the Baltic Rim, said the firms submitted an application of interest to the Swedish Energy Agency for investment support of a full-scale wave power site to utilize 500 generating units.
Fortum said it previously invested with the University of Uppsala in a wave power test site off the coast of Lysekil in Sweden. Swedish utility Vattenfall previously said it had invested with the university in the Islandsberg wave energy research area west of Islandsberg Peninsula at Lysekil, on Sweden's west coast. (HNN 7/13/07)
The Swedish Energy Agency has called for applications of interest in its mission to support and stimulate continuing development of commercially viable renewable energy production.
Fortum said the wave energy site will require an investment of nearly 25 million euros (US$31.4 million). It said it hopes the Swedish Energy Agency will contribute partial financing.