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Grant program announced for Oregon wave energy hydropower projects

Oregon Wave Energy Trust (OWET) has announced an industry matching grant program for developing wave energy hydropower projects in Oregon.

The program offers two funding possibilities - commercial scale project development grants and feasibility study grants, OWET announced.

“It is our hope that this program will assist developers in getting projects in the water off the Oregon Coast,” stated OWET Executive Director Jason Busch. “We are excited to be able to offer this program to developers and assist them in bringing their expertise and business to the state.”

Recently, Oregon Wave Energy Trust released a report that includes strategies and technical tools for electric utilities to guide the integration of wave energy hydropower into the Northwest power grid. The report is available on the Oregon Wave Energy Trust Web site.

In total, $500,000 is available for the OWET matching grant program, with $300,000 designated for commercial scale projects and up to $200,000 designated for feasibility studies.

The solicitation process is now open and closes April 30, 2011, or when all funds have been committed.

For more information about Oregon Wave Energy Trust (OWET), visit www.oregonwave.org.

Oregon Wave Energy Trust is a nonprofit public-private partnership funded by the Oregon Innovation Council. Its mission is to support the responsible development of wave energy in Oregon.

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