GE Invests in Wave Energy


GE has announced that it is providing capital to Ocean Power Delivery (OPD), a Scottish company that specializes in generating electricity from offshore ocean waves. OPD developed the Pelamis Wave Energy Converter, which generates 750 kilowatts of electricity from offshore wave motion. The company's first order is from a Portuguese consortium that will install the system to generate enough electricity to meet the demands of more than 15,000 Portuguese homes. OPD expects to install and commission the first stage of the project during the summer of 2006. See our round-up of wave technologies in a previous post. :: Clean Edge