Publisher’s Note: Feb 09, 2009 – Not only has Finavera surrendered their Makah Bay license noted below, they also announced surrendering the Humboldt County, California Preliminary Permit to explore wave energy:
“Finavera Renewables has filed applications to surrender its Federal Energy Regulatory Commission license for the Makah Bay Wave Energy Pilot Project in Washington and the Humboldt County Preliminary Permit for a proposed wave energy project in California.”
MendoCoastCurrent readers may recall Finavera’s inability to secure CPUC funding for the Humboldt project; noted below capitalization, financial climate as key reasons in these actions.
MendoCoastCurrent, February 6, 2009
Today Finavera Renewables surrendered their Federal Energy Regulatory Commission (FERC) Makah Bay, Washington wave energy project license, commenting that the Makah Bay Finavera project “never emerged from the planning stages.”
And “due to the current economic climate and the restrictions on capital necessary to continue development of this early-stage experimental Project, the Project has become uneconomic. Efforts by Finavera to transfer the license were not successful. Therefore, Finavera respectfully requests that the <FERC> Commission allow it to surrender its license for the Project. ”
Back in early 2007, Finavera’s Makah Bay project looked like it would become the first U.S. and west coast project deployment of wave energy devices. And this project also had a unique status based on Native American Indian land/coastal waters, so the rules of FERC, MMS were different due to sovereign status.
Then AquaBuoy, Finavera’s premier wave energy device, sank off the Oregon coast due to a bilge pump failure in late October 2007.
Recently noted was Finavera’s comment that they are currently focusing their renewable energy efforts toward wind energy projects closer to their homebase in British Columbia, Canada and in Ireland.