Swedish wave energy developer CorPower Ocean has been put in charge of $35 million (€30 million) European project aimed at improving the competitiveness and bankability of wave energy farms, with large-scale validation
Swedish wave energy developer CorPower Ocean has been put in charge of $35 million (€30 million) European project aimed at improving the competitiveness and bankability of wave energy farms, with large-scale validation work planned in U.K. waters.
The POWER-Farm EU Project, supported by a $22.1 million (€19 million) Horizon Europe grant, will demonstrate the survivability, reliability and performance of wave energy systems at the European Marine Energy Centre (EMEC) in Scotland.
The initiative focuses on proving technology readiness for commercial deployment and accelerating volume manufacturing across Europe.
Partners include EMEC, the University of Edinburgh, Ocean Energy Europe, Renewable Risk Advisers, and Kristinehamn Teknik & Service.
CorPower said the program reinforces Europe’s position in clean-energy innovation and supports the UK’s ambitions in floating renewable technologies. With an estimated 25GW of practical wave deployment potential, the U.K. is viewed as a key future market.
The project builds on CorPower’s wave energy converter technology currently operating off Portugal and aims to prove the scalability of European, particularly U.K. and Scottish, manufacturing capability for future wave farms.
“The POWER-Farm EU initiative arrives at a pivotal moment for the wave-energy sector, as the industry shifts from research and development to commercial deployments. With Europe investing to
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