October 16, 2008
Iberdrola and Tecnalia Install First Prototype to Produce Wave Energy in Spain
Iberdrola and Tecnalia have installed, within the framework of the Oceantec Project, the first prototype for producing wave energy on the coast of Guipuzcoa, at the town of Pasajes in Spain.
The initiative, which has a budget of E4.5 million, aims to install a device for capturing wave energy at a high performance and a competitive cost.
According to Iberdrola, this second installation on which both companies are working will have a power of 500kW and should be able to produce in one year a quantity of renewable energy sufficient for supplying the domestic consumption of some 950 homes.
The Oceantec Project will enable the generation of business from the development of a renewable energy source, create opportunities for industrial growth and restructuring in the Basque Country and support the use of the energy resource on the coast of the region.