MendoCoastCurrent, January 31, 2009
On January 26, 2009, Lockheed Martin and Ocean Power Technologies agreed to work together to develop a commercial-scale wave energy project off the coasts of Oregon or California.
OPT is providing their expertise in project and site development as they build the plant’s power take-off and control systems with their PowerBuoy for electricity generation. Lockheed will build, integrate and deploy the plant as well as provide operating and maintenance services. Lockheed and OPT have already worked together on maritime projects for the U.S. government.
Spanish utility Iberdrola is using OPT’s PowerBuoy on the Spainish coast in Santoña for first phase deployment, hoping to become the first commercial-scale wave energy device in the world. In the Spainish project, Lockheed and Ocean Power are working toward an increased cost-performance of a power-purchasing agreement from which this U.S. wave energy project may benefit.