Finavera Renewables Inc. announced Aug. 13 it received an investigative use permit for its 5-MW Ucluelet wave energy project, proposed for a site off the west coast of Vancouver Island, British Columbia.
The B.C. government issued the permit, which grants Finavera the right to conduct resource and environmental studies for two years to determine project feasibility.
Finavera said Ucluelet has the potential to become the first offshore wave energy project in Canada. The project would feature clusters of the company’s AquaBuOy wave energy converters. It could have an initial generating capacity of 5 MW, with a planned expansion to 100 MW.
Finavera said the project might be eligible for �flow through� tax incentives from Canada’s federal government. The incentives were included in the federal budget adopted earlier this year.
The company, an Ireland-based energy business involved in global development of ocean wave projects, has wave energy projects planned, or under development, in several other countries, including the United States. (HNN 7/3/07)