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  Hydrokinetic News

Oregon wave power projects offered $500,000 in grants

Up to $50,000 is on offer for wave power feasibility projects, and up to $150,000 for commercial-scale prototypes

Wave energy pioneers developing projects in the state of Oregon are being offered a share of $500,000 in a new grant program.

The Oregon Wave Energy Trust is making $200,000 available for feasibility studies and $300,000 available for the developers of grid-tied commercial-scale devices.

“It is our hope that this program will assist developers in getting projects in the water off the Oregon Coast,” said Jason Busch, executive director of the Trust, a non-profit public-private partnership funded by the Oregon Innovation Council.

“We are excited to be able to offer this program to developers and assist them in bringing their expertise and business to the State.”

Applications

Developers can apply for the funds from today until April 30, 2011, or when all funds have been committed. Funds will have to be matched by other sources of finance.

Projects must be located within Oregon’s boundaries, and within 12 nautical miles of shore.

Individual grants for feasibility studies will be up to $50,000, while up to $150,000 will be available for commercial-scale projects according to the Request for Proposals.