Vattenfall Increases Investment in Swedish Wave Power Research
Posted on: Thursday, 5 July 2007, 12:24 CDT
Swedish utility Vattenfall is to invest a total of SEK13 million in a wave power technology research project currently being carried out by Uppsala University in Sweden. The research is being conducted at a research installation in Skagerak, located approximately 2km west of Lysekil on the west coast of Sweden.
Vattenfall had previously pledged to invest SEK4 million, but has decided to increase its investment to SEK13 million as the company believes wave power to be an important part of the fight against climate change.
The research area has been granted a permit for 10 generators that will be deployed on a gradual basis up to 2009. The project involves a total investment of SEK50 million. Other companies and organizations funding the initiative include the Swedish energy agency and Swedish west coast power producers Goteborgs Energi and Falkenberg Energi.
Vattenfall said that the wave energy research project is designed to support the European Union's objective that European countries obtain 20% of their energy from renewable resources by 2020.
"To meet the climate challenge, we must review all our options and especially renewable energy. Wave power is part of Vattenfall's long-term development work and we hope to learn more about the technology by participating in this research project," said Karl Bergman, head of research and development at Vattenfall.
Within the framework of Vattenfall's wave energy program, launched in autumn 2006, the company is also evaluating different wave power technologies and the environmental impact of wave power plants, as well as economic conditions, network questions and localization issues.
Source: Datamonitor
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