Fortum and Seabased AB to start construction of a wave power park in Sweden
PRESS RELEASE, 9 December 2011
Fortum and Seabased AB have today signed an agreement on the construction of a joint wave power park in Sotenäs, Sweden. After completion, the wave power park will be the world’s largest, full-scale demonstration project of its kind. The total budget for the project is about 25 million euros, of which Fortum’s share is about half.
In the first half of 2012, Seabased will start serial production of buoys, generators, substations and converters at a factory to be established in the Lysekil municipality in Sweden.
The goal is for marine installation of the first 42 wave power buoys and related equipment during autumn and winter of 2012. Phase-two installations are planned to be take place after a research period of about one year. When completed, the wave power park will consist of 420 buoys, with a total output of about 10 megawatts, installed in a half a square kilometre area. The plant is scheduled for completion in 2014-2015.
”Wave power offers globally significant potential for next-generation energy production. Fortum has got off to an early start in the development of the technology for commercial use. We have big expectations for the demonstration project in Sweden,” says Fortum’s Risto Andsten, Vice President, Renewable Energy.
The technology for the wave power park is based on Uppsala University’s wave power research in which Fortum has participated since 2007. The Swedish Energy Agency has decided to grant investment support for the project.
Fortum is also participating in the Finnish Waveroller development project, in which wave energy is converted into electricity close to the shore. The project’s goal is to build a 300-kW demonstration plant during 2012 in Peniche, Portugal, to produce electricity for the grid. Fortum and the French naval defence and energy company, DCNS, are developing wave power in France. The companies are launching a joint feasibility study for a wave power demonstration project.
Wave power projects are part of the solar economy-based energy solutions. Fortum’s mission is to create energy that improves life for present and future generations, and to provide sustainable solutions that fulfil the needs for low emissions, resource efficiency and energy security.
Fortum Corporation
Corporate Communications
Fortum
Fortum's purpose is to create energy that improves life for present and future generations. We provide sustainable solutions that fulfil the needs for low emissions, resource efficiency and energy security, and deliver excellent value to our shareholders. Our activities cover the generation, distribution and sales of electricity and heat as well as related expert services.
Fortum's operations focus on the Nordic countries, Russia, Poland and Baltic Rim area. In the future, the integrating European and fast-growing Asian energy markets provide additional growth opportunities. In 2010, Fortum’s sales totalled EUR 6.3 billion and comparable operating profit was EUR 1.8 billion. We employ approximately 10,500 people. Fortum’s shares are quoted on NASDAQ OMX Helsinki.
Further information: www.fortum.com