Ocean Power Technologies (OPT) is moving forward with plans to build the world's largest wave power station.
The US company has engaged Professional Diving Services (PDS) to conduct a detailed seabed survey for the proposed 62.5 MW wave power station off the coast of Victoria state, Australia.
The contract marks a "major step in the development of the projects", said OPT in a statement. The survey will identify the best area off the coast for the proposed project, which will use OPT's PowerBuoy wave energy technology.
The project will be built off the coast of Portland and is being developed by VWP, a wholly owned subsidiary of Ocean Power Technologies Australasia (OPTA), in which OPT has an 88 per cent stake.
VWP has been awarded a grant of A$66.5 million under Australia's Renewable Energy Demonstration Program. Overall the project will cost in excess of A$230 million to develop, says OPT.
OPTA is 12 per cent owned by Woodside Petroleum Ltd.
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