The joint company that is developing the plant, called Iberdrola Energias Marinas de Cantabria, is owned by Iberdrola Renovables (60%), Total (10%), OPT (10%), the Instituto para la Diversificacion y el Ahorro Energetico (Institute for Energy Diversification and Saving), IDAE (10%), and the Sociedad para el Desarrollo de Cantabria (Cantabria Regional Development Agency), SODERCAN (10%).
The budget of the first phase, which includes the marine electricity infrastructure, which will be subsequently deployed, has risen to approximately E3 million.
The operation of the plant at Santona involves a number of buoys that, due to the movement of the waves, produce a vertical movement that, through a hydraulic system, activates a conventional generator, which produces low-voltage electricity, said Iberdrola Renovables. This renewable energy will be extracted through a marine substation, in which the voltage is adapted to that of the grid.
