Fortumi loidete energia park LÄÄNEMEREL

http://www.fortum.com/news_section_item.asp?path=14022;14024;14026;547;2346;51160

Fortum and Seabased Industry receive positive response from Swedish Energy Agency regarding investment grant for wave power project
11.2.2010 16:33

Energimyndigheten, the Swedish Energy Agency, announced approval of an investment grant today for the planned full-scale wave power project near Smögen in the municipality of Sotenäs in Sweden. The grant entails that the agency will contribute SEK 139 million (approx. EUR 14 million) of the total investment of approximately EUR 25 million. The state-funded grant is welcome in further developing the technology for commercialisation. With the demonstration project, Fortum can develop wave power into a significant source of energy in Europe.

In May 2009, Seabased Industry in collaboration with Fortum, submitted an application to Energimyndigheten, the Swedish Energy Agency, for an investment grant to participate in the programme for renewable energy.

"We are happy with the Swedish Energy Agency's positive response. The future looks promising if the technology can be developed to become reliable and competitive. Planning continues and we are now awaiting permits from the Swedish Environmental Court and the EU. We have started planning for electrical grid connections and concession applications, and hope for a speedy permit process", says Göran Hult, senior advisor, Fortum Power.

About the project

With the technology, which is not yet commercially mature, the planned wave-power plant is to be the world's largest full-scale installation of its type, with 420 interconnected units. The output will be approximately 10 MW.

The environmental impact assessment has been submitted, along with permit applications. A review by the EU will determine whether Fortum will make use of the awarded investment grant. The planned investment requires an investment decision by Fortum.

Background

The Swedish Energy Agency is tasked with supporting and stimulating development of commercially viable, renewable energy production through investment grants. The agency has previously made decisions on four projects. Fortum and Seabased Industry's project is the fifth and final project of this programme.

Seabased Industry AB is an Uppsala-based company that develops new technology for extraction of energy from sea waves. The company is closely associated with the research on wave power conducted at Uppsala University.

Fortum Corporation
Corporate Communications

For more information, contact:
Göran Hult, Senior Advisor, Fortum Power Division, +46 (0)70 344 54 98
Annika Bremer, Communications Manager, Power Division, +46 (0)76 814 40 82