The Government of Bermuda has approved regulations for innovative licenses to provide electricity to the island, including those for wave energy.
According to Swedish company Seabased , which has recently unveiled plans to develop a 40MW wave energy park in Bermudas , the move further clears a regulatory path for the company to proceed with the project.
Bermuda and its Minister of Home Affairs Walter H. Roban have provided an example to countries and communities everywhere for creating a legal and regulatory process to incorporate wave power into their renewable energy mix, Seabased said welcoming the announcement.
Laurent Albert , Seabased’s CEO, said: “The focus of innovation in renewable energy often centers on technology. But, the regulatory piece is just as important, and requires the support of an entire community. Bermuda and Minister Roban have done an excellent job of creating a template that many other communities can use to expand their renewable base.”
To remind, Seabased’s 40MW project will be built at a leased area located few kilometres offshore from Bermuda’s airport on St. George’s Island.
Once constructed, the wave energy park will fuel the island’s grid, providing roughly 10% of Bermuda’s energy needs, according to Seabased.