EU Horizon 2020 programme invests in wave power research project

The European Commission’s research and innovation programme Horizon 2020 has granted €17 million (US$19 million) in funding for the Fortum-led Clean Energy From Ocean Waves (CEFOW) research project.

The mission of the five-year project is to research and develop the use of the Penguin wave energy converter, developed by the Finnish company Wello, in electricity grid connected ocean conditions. The multi-device test project will be carried out at Wave Hub, the wave power-focussed test centre, located in Cornwall, Great Britain, where Fortum has a leased sea area.

In the project, Finnish wave power technology is being developed and operated in collaboration with British and Swedish experts. The EU has granted €17 million of the project’s total budget of €24.5 million.

In addition to Fortum, the joint project consists of Wello Ltd, Mojo Maritime Ltd, Wave Hub Limited, Green Marine (UK) Ltd, Uppsala University, Plymouth University and the University of Exeter.

Heli Antila, Chief Technology Officer at Fortum, stated

“Wave power may play an important role in the future as an emissions-free energy production form, and that is why Fortum is participating in the research and development efforts. By this project we are expecting to increase our capabilities and skills in the field of wave power. We believe that the funding from the European Commission and the experienced collaboration partners create excellent conditions for making great strides forward in commercializing Wello’s wave power technology. On a global scale, this project is at the vanguard of wave power research,”