Ocean Power deploys wave energy buoy in Spain

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LONDON, Sept 23 (Reuters) - Wave power technology firm Ocean Power Technologies (OPTT.O: Quote, Profile, Research, Stock Buzz) said on Tuesday it had deployed its first commercial wave-power generator in Spain, providing a launch pad for possible future deals in the UK and France.

The 40 kilowatt buoy, which converts wave motion into electricity, has been deployed under contract with Iberdrola (IBE.MC: Quote, Profile, Research, Stock Buzz) at Santona on Spain's northern coast, OPT (OPT.L: Quote, Profile, Research, Stock Buzz) Chief Operating Officer Mark Draper said.

OPT has a tentative deal to develop nine more powerful versions of the buoy over the next year and eventually create a "PowerBuoy" farm for the Spanish utility, capable of generating enough energy to supply up to 2,500 homes annually.

"Iberdrola have always been a big wind player and they are an early mover into wave," Draper said in a telephone...

tags: ocean energy, tidal energy

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