Vattenfall and Pelamis Wave Power are to appoint a liquidator to close Aegir Wave Power Ltd, a company that was supposed to develop Shetland wave farm.
Aegir Wave Power is a joint venture launched by Pelamis Wave Power and Vattenfall to develop a 10 MW wave farm off Shetland.
Vattenfall said that the decision was made due to uncertainty of wave power commercialization, and that the company is shifting to power generation by wind.
“In 2009 when we launched Aegir we had high hopes for wave power off Shetland. Unfortunately the wave sector has not developed as planned.
“Vattenfall’s six-month review of our work in the wave power sector concluded that there remains long term potential so we will watch the sector very carefully in the hope that there will be progress toward securing a commercial technology.
“The voluntary liquidation of Aegir is a logical outcome of our six month review and the recent delays experienced by the sector,” Bjorn Bolund , responsible for ocean energy for Vattenfall, was quoted as saying by BBC.
Pelamis Wave Power went into liquidation in late 2014, and HIE obtained Pelamis’ assets and intellectual property on behalf of Wave Energy Scotland (WES), a new body established to support Scotland’s wave energy sector.
Vattenfall is 100% owned by the Swedish state, and its main products are electricity, heat and gas.
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Image: Pelamis Wave Power