Vattenfall Invests in Ocean Energy in Ireland

[jpak]

http://www.renewableenergyworld.com/rea/news/story?id=54502

Vattenfall has acquired 51% of the Irish ocean energy site development company Pandion Ltd for €500,000 . Ocean energy developer Wavebob Ltd will hold the remaining 49% of Pandion and the agreement allows opportunities for further partners to participate.

Pandion has applied for permission to develop ocean energy sites on the west coast of Ireland, which could be developed to a commercial size, more than 250 megawatts (MW) of capacity, when the company deems it technically and economically viable.

For Vattenfall the investment in Pandion is a first step towards a leading position on the emerging ocean energy market, fully in line with its planned investments in sustainable energy solutions, the company said.

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[Kajsa]

1. This is a great source of renewable

energy.

How will they harness it?

btw, 'Vattenfall' caught my eye immediately.
It means 'waterfall' in Swedish.