Energimyndigheten has given its approval for an investment grant for the planned full-scale wave power project near Smögen in the municipality of Sotenäs in Sweden.
The Swedish Energy Agency will contribute €14 million of the total investment of €25 million.
Fortum stated that 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.
In May 2009, Seabased Industry in collaboration with Fortum, submitted an application to Energimyndigheten, for an investment grant. With the demonstration project, Fortum says it can develop wave power into a significant source of energy in Europe. According to the company, 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.
Fortum Power, which has already started planning for electrical grid connections and concession applications, is now awaiting permits from the Swedish Environmental Court and the EU. The company is now hoping for a speedy permit process. The environmental impact assessment has been submitted, along with permit applications.
Seabased Industry 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.
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