Swedish wave energy company Seabased has signed a memorandum of understanding (MoU) for the development of 10MW wave energy plant offshore the Polynesian country and archipelagic state of Tonga.
US-based marine energy company Ocean Power Technologies (OPT) has increased its net loss in the third quarter of fiscal 2023, as compared to the same period a year earlier, with revenues marking a growth.
Following the announcement of the budget for the UK’s fifth Contracts for Difference (CfDs) allocation round (AR5), and the plan on how different renewable energy projects will compete, the renewable energy industry in the UK has warned the budget and the parameters were “too low and too tight” and
Oneka Technologies, a developer of wave-powered desalination solutions, has teamed up with Canada’s Ocean Supercluster on a new project whose aim is to scale up the company’s wave energy-driven desalination technology to utility scale.
The UK government has confirmed the £205 million budget for renewable energy projects in the fifth round of contracts for difference (CfD) auction, which features plans to cut the tidal stream ring-fence from £20 million to £10 million.
Minesto has announced the preliminary outcome of its rights issue which brough in SEK 120 million (€10.7 million) of fresh funding for the company’s tidal energy technology and projects.
Swedish ocean energy developer Minesto has installed the tidal power plant Dragon 4 and generated the first electricity at the newly added second foundation in Vestmannasund, Faroe Islands. The production of the first electricity was revealed in Minesto’s update on the Vestmanna project on 14 March.
Danish wave energy company Wavepiston has signed an agreement with French firm YS Energies Marines Developpement (YS EMD) to develop a wave energy project in Martinique. The two companies have formed a partnership to co-develop the project that aims to provide clean energy for the local communities.
Danish wave energy company Wavepiston has reached 130% of its initial crowdfunding target, as the campaign remains open for two more days.
Minesto has awarded a contract to Orkney-based marine services provider Leask Marine for the installation of a drilled foundation anchor for the first Dragon 12 tidal energy kite system in Faroe Islands.
A wave energy device, developed by the Spanish company Rotary Wave, has been installed in Valencia to provide clean electricity for the public lighting at the city’s seafront.
A new study has revealed that wave energy can play an instrumental role in the decarbonization of the steel manufacturing industry, which accounts for around 7% of global greenhouse emissions.
Swedish company Minesto has marked one month of continuous production at record levels with its Dragon 4 tidal energy kite in Faroe Islands, as it advances the preparations for the installation of a new device.
Italian energy giant Eni has completed the installation of ISWEC wave energy device off the coast of Pantelleria island in the Mediterranean Sea.
