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Fortum and Seabased Energy submitted application for investment support of a full-scale wave power site off the Swedish west coast
7.5.2009 11:19

Fortum and a Swedish wave power equipment supplier Seabased Industry submitted on 4 May 2009 an application for investment support to the Swedish Energy Agency regarding a full-scale wave power site off the Swedish west coast. Once completed, the power site would be world’s largest of its kind with a power generation capacity of 10 MW, representing an estimated total investment of close to EUR 25 million.

“We believe it’s possible to move on from testing to a full-scale power site,” says Göran Hult, Head of Fortum’s hydropower. He emphasises that wave power is a technology still under development.

Water in movement contains a lot of energy. Estimates show that the relatively calm Baltic Sea alone could generate the amount of electricity representing close to the annual electricity consumption of all Swedish households.

Fortum Corporation
Corporate Communications
For more information please contact
Göran Hult, Vice President, Fortum Generation AB, +46 70 3445498
Agneta Molinder, Press Officer Fortum, +46 70 3445332


Background
The Swedish Energy Agency is commissioned to support and stimulate the continuing development of commercially viable renewable energy production through investment support. The Agency has selected six projects, Fortum’s and Seabased Energy’s wave power site among them, which it regards especially interesting. Fortum will reach its investment decision after the Swedish Energy Agency has decided on the application for investment support.

Seabased Industry AB is an Uppsala-based company developing new technology for capturing energy from ocean waves. The company is closely associated with the wave power research at the University of Uppsala.