Aquamarine Power Puts Wave Farm Plan on Ice
- Business & Finance
Aquamarine Power has delayed its plan to install 40 to 50 wave energy converters off the west coast of Lewis, Scotland, and is looking to focus on production of components for shared use in the wave energy industry, The Herald writes.
The company has put the plan on hold for five years, citing technical issues with its Oyster device as the main reason. Also, Aquamarine Power’s spokesperson said that the company does not expect that the area of installation will be connected to the land in the following five years.
Furthermore, the company is considering using the site as a multi-technology test area or developing the project with other parties.
In December, Aquamarine Power announced its plan to scale down its business due to financial, regulatory and technical difficulties which the wave energy sector is facing.
Offshore WIND Staff; Image: Aquamarine Power