Ocean Power Technologies, Lockheed Martin partnering for 19-MW wave energy plant in Australia

Ocean Power Technologies Inc. and Lockheed Martin have entered an agreement to develop a 19-MW hydrokinetic plant in Portland, Australia.

Lockheed Martin will assist Ocean Power Technologies in the production and system integration of the project's wave-energy converters and support program management.

The companies have been collaborating since 2004 -- first on a project for the U.S. Navy and most recently on the design and launch of utility-scale wave energy converters in Oregon.

The project is being developed by Australia's Victorian Wave Partners Pty Ltd., which is a subsidiary of Ocean Power Technologies (Australasia) Pty Ltd.

Funding for the project comes in part from the Australian Department of Resources, Energy and Tourism, which previously announced a grant worth US$65.3 million.

OPT says the partners are currently exploring additional financing opportunities and pursuing power-purchase agreements with local industries and utilities.

HydroVision International 2014 Keynote Speakers

Presenting the HydroVision International 2014 Keynote Speakers

Check out a slideshow covering the keynote speakers at the HydroVision International 2014 conference and exhibition

Click Here >>

Hydro Industry Financials

Most Read Articles

Recent Comments

Buyers Guide Companies

Waveberg Development Ltd

Wave energy converter under development. Requir...

Continuing Education

Professional Development Hours
To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

09/01/2014
Volume 33, Issue 7
cover
09/01/2014
Volume 22, Issue 5
cover

Archived Articles

2006 | 2007 | 2008 | 2009 | 2010 2011 | 2012 | 2013
Hydro Review Past Issues