WAVE ENERGY DEAL DOWN UNDER

OPT, Leighton in wave energy pact
January 13, 2009 (Interrnational Water Power and Dam Construction)

“A wave energy development deal has been signed by Ocean Power Technologies and the Leighton construction group to build plants off the coast of Australia.

“The partners are to identify and assess potential sites for wave energy projects off the east and south costs of Australia…"

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“Under the deal, Australian group Leighton will carry costs of obtaining approvals, negotiating power purchase agreements, structure the project finance, and oversee the delivery and operation of plants…US firm Ocean Power Technologies will sell its PowerBuoy system…The firm said the deal was in line with its strategic plan to form alliances in key regions.

“The energy technology developer already has projects underway in the UK and Spain.”