ocean energy

Finavera Renewables gets preliminary permit for wave energy project in California

The Canadian wave power company has been given a preliminary permit for the 100 MW Humboldt County Project.

The permit has been granted by the United States Federal Energy Regulatory Commission (FERC). It will be valid for three years and allow Finavera to conduct various studies and determine whether the project is feasible both commercially and operationally. This will form the basis framework for applying for the later operating license.

According to Finavera Renewables CEO Jason Bak, “We believe the Humboldt County project could become the United States’ first commercial wave energy installation. This Preliminary Permit from FERC is a significant milestone that allows us to move forward on advanced planning for the project, and we look forward to working closely with the local community to ensure a successful project. We believe this project will illustrate how our innovative technology can contribute to the new energy economy through the creation of renewable electricity, jobs and ultimately, shareholder value. We are excited to be leaders in responding to the world’s need for clean energy.”

The first of these FERC permits was previously issued in Washington State, in addition this marks further progress which congress is making in getting wave energy pushed ahead. The Humboldt project would use the company's AquaBuOY technology and would generate 175 gigawatt hours per year.

For additional information:

http://www.finavera.com/files/2008-02-15%20Finavera%20Renewables%20California%20FERC%20prelim%20approved.pdf

www.finavera.com






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