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Ocean Power wins grant for Australian wave project

REUTERS -- LONDON (Reuters) - Renewable energy firm Ocean Power Technologies has won a A$66.5 million ($61 million) grant from the Australian government for a project set to be one of the first to generate power from waves on a utility scale.

Ocean Power, which is listed in both the U.S. and London, said on Friday work on the 19 megawatt project, enough to power 10,000 homes, was expected to begin by the second quarter of 2010.

The company uses buoys floating up and down to drive an electrical generator, with the power generated being transmitted onshore via an underwater cable.

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Submitted Nov 07, 2009 By: LetemEatCake

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LetemEatCake Champion Author Oklahoma City Posts:2,800 Points:436,370 Joined:Mar 2008	Message Posted: Nov 8, 2009 11:33:07 PM Ignore LetemEatCake Report Abuse BKool from Michigan... As usual, you are not seeing the big picture...only your tiny corner to prove your bogus claims. You have put a debt clock up as a citation which is so out of context it is impossible to draw any conclusions. There is no industrialized country in the world, that I am aware of without some debt, if you think otherwise you need to find one and move. As an American it is completely presumptuous for us to determine what the Australian government can and cannot afford. They obviously think this project is good for their people or they would not be funding renewable energy and wave technology. Who are we to disagree? We don't live or vote there. The Australian dollar is currently the sixth-most-traded currency in the world, and projected to continue to increase in strength in the next few years. The unemployment rate is somewhere near 6%; the inflation rate has cooled to the slowest pace in 10 years. Australia has an enviable, strong economy with a per capita GDP on par with the four dominant West European economies. Emphasis on reforms, low inflation, a housing market boom, and growing ties with China have been key factors over the course of the economy's 17 solid years of expansion. It has robust business and consumer confidence, and high export prices for raw materials and agricultural products which fueled the economy in recent years, particularly in mining states. Something really good is going on in Australia. So don't knock it unless you can provide us with citations that make sense! [Edited by: LetemEatCake at 11/8/2009 11:34:52 PM EST]
Bonanza Champion Author Boston Posts:6,211 Points:1,571,665 Joined:Jun 2004	Message Posted: Nov 8, 2009 12:26:22 PM Ignore Bonanza Report Abuse More government money given to the rich
MnMarty All-Star Author Twin Cities Posts:608 Points:123,560 Joined:Mar 2009	Message Posted: Nov 8, 2009 9:53:12 AM Ignore MnMarty Report Abuse The wave of the future.
RobRD Champion Author Alberta Posts:3,828 Points:896,020 Joined:Jul 2007	Message Posted: Nov 7, 2009 11:13:50 PM Ignore RobRD Report Abuse This sounds like a great idea. Why haven't other countries adopted it.
BburgCW Veteran Author Virginia Posts:326 Points:343,885 Joined:Jun 2009	Message Posted: Nov 7, 2009 5:53:53 PM Ignore BburgCW Report Abuse Excellent news! wonderful to read another article about this energy capturing technique.
cagustin Rookie Author Fresno Posts:99 Points:34,880 Joined:Oct 2009	Message Posted: Nov 7, 2009 5:12:17 PM Ignore cagustin Report Abuse Renewable energy with job security... what's not to like?
me2Ky09 Rookie Author Kentucky Posts:62 Points:8,035 Joined:Oct 2009	Message Posted: Nov 7, 2009 3:17:41 PM Ignore me2Ky09 Report Abuse Costs will come down the more plants are built. Doing nothing, just makes for higher prices in the future. Doesnt America "invest" in Anything any more? Are you Not glad our parents paid for all the Dams? Where are OUR LEADERS? Are we so polarized we cant move to protect our nation? As for all the things that can go "wrong" with this idea, seams to me that a great deal is wrong with Gas (oil spills in shipping it, Lead in the air, not to mention how it pollutes the ground water). Now isnt there always a problem with everything? To do nothing will just make gas prices rise until we can no longer afford it. This Company"s stock is only eight bucks a share.
headhog All-Star Author Indiana Posts:782 Points:369,825 Joined:Nov 2008	Message Posted: Nov 7, 2009 3:06:55 PM Ignore headhog Report Abuse I will be interesting to see if this works.
thirstyauto Champion Author Milwaukee Posts:6,119 Points:638,415 Joined:Nov 2008	Message Posted: Nov 7, 2009 3:04:26 PM Ignore thirstyauto Report Abuse So, would this work with lake power as well???
jwduke1 Champion Author Iowa Posts:11,300 Points:2,216,410 Joined:Apr 2004	Message Posted: Nov 7, 2009 2:56:22 PM Ignore jwduke1 Report Abuse Sounds like a good deal if it works.
Wolfwings Champion Author Delaware Posts:3,901 Points:813,580 Joined:May 2004	Message Posted: Nov 7, 2009 2:54:20 PM Ignore Wolfwings Report Abuse I hope this works, but wonder at the cost per MW before it becomes cost effective.
garman87 Champion Author Austin Posts:1,270 Points:1,507,050 Joined:Aug 2005	Message Posted: Nov 7, 2009 2:51:45 PM Ignore garman87 Report Abuse We need as many ways to get off oil.
Tatalah Champion Author Riverside Posts:5,715 Points:1,497,435 Joined:May 2003	Message Posted: Nov 7, 2009 2:49:09 PM Ignore Tatalah Report Abuse Nothing like a little free power
threewheeler Champion Author Seattle Posts:2,297 Points:281,125 Joined:Jun 2008	Message Posted: Nov 7, 2009 2:44:32 PM Ignore threewheeler Report Abuse will it help?
Zeke33 Champion Author New Hampshire Posts:2,817 Points:963,195 Joined:Sep 2005	Message Posted: Nov 7, 2009 2:41:50 PM Ignore Zeke33 Report Abuse I good idea to save oil. The environmentalists will find fault somewhere.
antur Champion Author Chicago Posts:2,007 Points:495,845 Joined:Mar 2008	Message Posted: Nov 7, 2009 2:40:23 PM Ignore antur Report Abuse Good. At least they will get some experience paid by not US citizens.
CISA Champion Author Orange County Posts:2,089 Points:673,320 Joined:Dec 2006	Message Posted: Nov 7, 2009 2:40:15 PM Ignore CISA Report Abuse The ultimate factor in all energy production, delivery and supply is variable cost, fixed cost, ROI and cost to consumer. A free market will ferret out the best and cheapest -- just keep the agenda folks (BHO, Pelosi, Reid; Palin, Romney; etc) OUT of the command and control business!
LanguageMan1 Champion Author Tampa Posts:5,941 Points:687,420 Joined:Apr 2008	Message Posted: Nov 7, 2009 2:34:29 PM Ignore LanguageMan1 Report Abuse It's about time, and it's only a drop in the bucket compared to what could be done and what they've given to the banks and wealthy in this country and around the world.
rjoeh Champion Author Michigan Posts:3,790 Points:1,582,765 Joined:Jun 2004	Message Posted: Nov 7, 2009 2:30:04 PM Ignore rjoeh Report Abuse Unless the oceans of the world dry up, this will be a never ending source of power. and to harness it for good is a positive thing.
PaylessKY Champion Author Kentucky Posts:3,565 Points:660,380 Joined:Oct 2008	Message Posted: Nov 7, 2009 2:28:15 PM Ignore PaylessKY Report Abuse More government money given to the rich.
waynemustang Champion Author Indiana Posts:3,198 Points:840,075 Joined:Nov 2006	Message Posted: Nov 7, 2009 2:22:58 PM Ignore waynemustang Report Abuse Greedy renewable energy companies need to pay for their own projects.
waynemustang Champion Author Indiana Posts:3,198 Points:840,075 Joined:Nov 2006	Message Posted: Nov 7, 2009 2:17:37 PM Ignore waynemustang Report Abuse Corporate welfare for Ocean Power. What a mooch.
jd2009 Champion Author Honolulu Posts:1,779 Points:555,695 Joined:Jan 2009	Message Posted: Nov 7, 2009 2:16:19 PM Ignore jd2009 Report Abuse What a great idea ... hope it works
NavyStore Champion Author Seattle Posts:2,681 Points:1,182,700 Joined:Aug 2005	Message Posted: Nov 7, 2009 2:12:39 PM Ignore NavyStore Report Abuse Ever notice how those that belong to 'The Party of NO' make blanket statements (GasOkie - "They have tried to harness the tide. They have tried to harness the waves. None of that worked very good.") but never put up any evidence? It would be laughable but nowadays, if you give them actual, peer-reviewed evidence, they just say you are wrong and that they 'know it is a left-wing, socialist, environmentalist trick'. Just goes to show that the 'War on Education' has succeeded!
lindact Champion Author New Haven Posts:3,994 Points:783,415 Joined:May 2008	Message Posted: Nov 7, 2009 2:08:05 PM Ignore lindact Report Abuse Somes like a simple yet great idea.
srobins81 Veteran Author Portland Posts:262 Points:927,875 Joined:Dec 2005	Message Posted: Nov 7, 2009 2:04:05 PM Ignore srobins81 Report Abuse I am alarmed at the number of people who either don't use spell/grammer check or are just plain uneducated that post here. [Edited by: srobins81 at 11/7/2009 2:04:41 PM EST]
Grizzly1505 Champion Author North Carolina Posts:1,122 Points:587,965 Joined:Dec 2007	Message Posted: Nov 7, 2009 2:03:26 PM Ignore Grizzly1505 Report Abuse @gasokie you are mistaken.Because Americans are not able and willing to harness energy from tides, does not mean it can't be done elsewhere. In Holland (that's in Europe) the energy of the tide is harnessed very efficiently at the northern part of it called Lake Ijssel for decades.they also have big wind farms like the ones in Germany.
nimpy Champion Author Indianapolis Posts:4,112 Points:890,995 Joined:Oct 2007	Message Posted: Nov 7, 2009 1:59:57 PM Ignore nimpy Report Abuse This is interesting. I hope it works
jiamusi45 Champion Author Calgary Posts:1,315 Points:102,515 Joined:May 2009	Message Posted: Nov 7, 2009 1:55:51 PM Ignore jiamusi45 Report Abuse Wave power is a good solution but it has it's issues, google wave power.
TomJDriver All-Star Author London Posts:914 Points:180,400 Joined:Jul 2006	Message Posted: Nov 7, 2009 1:53:13 PM Ignore TomJDriver Report Abuse Good on them. This has been perfected over many years and the government money is to build a systems with tested technology not a grant to study it. Unfortunately there are health problems living near wind turbines. If only they could get power from wind in uninhabited portions of the outback to populated areas effectively.
dhnbBUG Champion Author Pennsylvania Posts:2,621 Points:730,455 Joined:Apr 2008	Message Posted: Nov 7, 2009 1:52:20 PM Ignore dhnbBUG Report Abuse As simple as that.
NavyStore Champion Author Seattle Posts:2,681 Points:1,182,700 Joined:Aug 2005	Message Posted: Nov 7, 2009 1:51:46 PM Ignore NavyStore Report Abuse Very cool! Oh, and GasOkie, something tells me you're a 'Drill here, Drill now' kind of guy... Seen that Golden Driller lately? He needs to be holdings a windmill and have solar panels at his feet...
dopster Champion Author Toledo Posts:2,177 Points:1,353,010 Joined:Aug 2004	Message Posted: Nov 7, 2009 1:51:24 PM Ignore dopster Report Abuse Research costs money. Simple as that.
gasokie All-Star Author Oklahoma Posts:540 Points:573,720 Joined:May 2007	Message Posted: Nov 7, 2009 1:46:25 PM Ignore gasokie Report Abuse They have tried to harness the tide. They have tried to harness the waves. None of that worked very good. Now they are trying to horness somebody else' money. That is going very well, thank you.
repeater1 Champion Author Kansas Posts:3,431 Points:1,399,370 Joined:Oct 2005	Message Posted: Nov 7, 2009 1:45:27 PM Ignore repeater1 Report Abuse Now if they can bring it in on time and within budget it would be great.
PDQBlues Champion Author San Diego Posts:2,269 Points:500,375 Joined:Jan 2009	Message Posted: Nov 7, 2009 1:45:12 PM Ignore PDQBlues Report Abuse Great news! There is energy in them there waves! :-)
ByGuy Champion Author Dallas Posts:3,216 Points:783,710 Joined:Nov 2005	Message Posted: Nov 7, 2009 1:41:15 PM Ignore ByGuy Report Abuse Sounds good!
arnerator Champion Author Seattle Posts:3,217 Points:650,960 Joined:Sep 2008	Message Posted: Nov 7, 2009 1:40:34 PM Ignore arnerator Report Abuse Jeez.....how clean can you get ??
gasokie All-Star Author Oklahoma Posts:540 Points:573,720 Joined:May 2007	Message Posted: Nov 7, 2009 1:39:10 PM Ignore gasokie Report Abuse Yeah. What Ashbury says. And. Hasn't this been tried before? Maybe 3X? And-are re we payin' for this or are the Aussies?
Cuzilla Champion Author Indianapolis Posts:8,793 Points:1,546,315 Joined:Sep 2005	Message Posted: Nov 7, 2009 1:38:07 PM Ignore Cuzilla Report Abuse This is not a new idea. It has been around since the 70's that I am aware of. Using the tides is another idea floated back then also. These exotic schemes will only work if oil stays very high and is not seen likely to come down.
CLM06 Champion Author Tampa Posts:4,674 Points:1,110,265 Joined:Sep 2006	Message Posted: Nov 7, 2009 1:30:16 PM Ignore CLM06 Report Abuse Initially high but what about maintenance costs dealing with all that salt
Asbury09 Champion Author Iowa Posts:2,362 Points:554,855 Joined:Jan 2009	Message Posted: Nov 7, 2009 1:29:51 PM Ignore Asbury09 Report Abuse sounds like a Rube Goldberg idea
balljars Champion Author Michigan Posts:3,628 Points:720,300 Joined:Aug 2008	Message Posted: Nov 7, 2009 1:29:08 PM Ignore balljars Report Abuse Now there is a new idea. I hope this works out.
SUPERQUACK Champion Author Sacramento Posts:1,462 Points:985,050 Joined:Jun 2007	Message Posted: Nov 7, 2009 1:27:30 PM Ignore SUPERQUACK Report Abuse that much money for 10000 homes ?
AtascaderoHound All-Star Author California Posts:557 Points:588,690 Joined:Oct 2006	Message Posted: Nov 7, 2009 1:23:55 PM Ignore AtascaderoHound Report Abuse The fuel is sure cheap!
milespergallon Champion Author Illinois Posts:4,973 Points:1,046,195 Joined:Feb 2007	Message Posted: Nov 7, 2009 1:19:06 PM Ignore milespergallon Report Abuse Such a simple idea, wonder why it wasn't developed a long time ago.
Tonester1 Champion Author New Jersey Posts:7,627 Points:1,363,195 Joined:Oct 2006	Message Posted: Nov 7, 2009 1:18:13 PM Ignore Tonester1 Report Abuse I like it.
Paw5X Champion Author Gary Posts:5,689 Points:1,539,945 Joined:May 2005	Message Posted: Nov 7, 2009 1:16:32 PM Ignore Paw5X Report Abuse Hope this works and we can learn something.
TECH500 Champion Author Alberta Posts:3,141 Points:654,655 Joined:Apr 2008	Message Posted: Nov 7, 2009 1:11:55 PM Ignore TECH500 Report Abuse Interesting ... lets see how that pans out for them.
netman044 Champion Author Texas Posts:3,844 Points:646,060 Joined:Sep 2005	Message Posted: Nov 7, 2009 1:11:40 PM Ignore netman044 Report Abuse If the underwater cable is compromised, do you have an electricity spill?