Wave Energy Market News

While the recent swoon in world oil and gas prices has predictably cooled a number of offshore renewable projects, there is a palpable change regarding the way in which the world views renewable energy. Renewable energy projects, at one time merely serving as window dressing, are slowly weaving their way into the mainstream energy mix, with European countries, namely the U.K., leading the way. In November world leaders will arrive in Paris to negotiate a new global agreement on climate change…

IHC Merwede establishes IHC Tidal Energy and acquires Wave Rotor technology. On 30 May 2012, IHC Merwede signed an agreement to acquire Wave Rotor technology from Ecofys, which is renowned for its expertise in sustainable energy solutions. The official signing was made by Willem Steenge, Managing Director of IHC Tidal Energy, and Manon Janssen, Managing Director of Ecofys. Wave Rotor technology, which will be managed by the newly established company IHC Tidal Energy, enables IHC Merwede to further secure its position in the renewable market.

AWS Ocean Energy Ltd, one of Scotland’s pioneering wave energy companies, announced that it had secured a major investment from Alstom, a global leader in power generation, power transmission and rail infrastructure. Alstom acquires a 40% equity stake in Inverness-based AWS Ocean Energy. This will give the company the financial strength to expand its operations and accelerate the development of its AWS-III wave power technology. It is Alstom’s first-ever investment in the wave energy sector. The announcement was made June 21 2011 at Edinburgh Castle, at an event hosted by Alex Salmond, Scotland’s First Minister. Alex Salmond, the First Minister…