Oregon Wave Energy Trust launches grant program
The Oregon Wave Energy Trust announced this week a $500,000 industry matching grant program designed to encourage the development of wave energy projects.
The program offers two funding possibilities, with $300,000 designated for commercial-scale project development grants and $200,000 designated for feasibility study grants.
“It is our hope that this program will assist developers in getting projects in the water off the Oregon Coast,” said executive director, Jason Busch, in a press release. “We are excited to be able to offer this program to developers and assist them in bringing their expertise and business to the State.”
The solicitation process is now open and closes April 30, 2011 or when all funds have been committed.
Wave energy is thought to be maturing as a renewable energy source, entering a deployment phase. California utility PG&E announced a new project this week.
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