Installation Of Wave Energy Buoy Off Oregon Coast Hits Setback

, Posted: Thu, March 28 2013 at 8:41 AM, Updated: Thu, March 28 2013 at 8:52 AM

The nation's first commercial wave energy operation, expected to be installed off of the Southern Oregon coast this year, is facing a setback.

Ocean Power Technologies says it has hit an unexpected road block. The company must meet all the requirements of the entire 10-buoy project before placing a single test buoy in the water.

The company plans to install buoys that use wave motion to generate electricity, enough to power about 1,000 homes. Cables would take the power inland to the grid.

In the past the company in the past has relied heavily on funding from the U.S. Department of Energy and the Navy, and says they are investigating additional sources of funding to get up to regulation for the installation of the test buoy.

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