Good News from Thu, 02 August, 2012:

Finnish companies testing wave power technologies

Wello's Penguin is harvesting ocean energy in Atlantic Ocean, just off the cost of Scotland. Wello's Penguin is harvesting ocean energy in Atlantic Ocean, just off the cost of Scotland.

Finnish companies are testing the viability of wave power during this summer in Atlantic Ocean of the coasts of Portugal and Scotland. Wello, the renewable technology developer, has successfully installed its Penguin wave energy converter to Orkney waters.

Wello Penguin is a unique and patented construction to harvest ocean energy. It is based on industry standard components, including a generator typically used by wind turbines, to allow scalable manufacturing by virtually any shipyard using existing manufacturing processes.

Also after years of development and model-making, the ‘WaveRoller’, a power plant conceived by diver Rauno Koivusaari, is now ready for action off the coast of Portugal.

According to a Wello press release, the initial results confirm efficient rotating movement of the device even in smaller waves than originally anticipated. Installation will be followed by data collection and performance optimization based on the data.

― We are proud to be one of the few companies to have full size wave energy converter deployed. With the installation we were also able to demonstrate scalable and cost efficient deployment, Aki Luukkainen, CEO of Wello, says.

According to YLE, wave energy has been predicted to grow into a business worth billions. Experts at the Finnish Innovation Fund Sitra are hopeful of a growing market in wave power. Sitra, which has funded wave technology, is confident of Finnish know-how in the field. The capacities and costs of Finnish wave power units are now nearing estimates deemed sensible for electricity production.

― There is demand, and such a huge market. Also, no one has got any further than we have, cautions Koivusaari, the father of the WaveRoller.