Aquamarine Power’s Oyster wave power technology captures energy in nearshore waves and converts it into clean sustainable electricity.
Scotland-based Aquamarine Power will use the five-year loan to complete a 2.4MW Oyster array, located at the European Marine Energy Centre, Orkney.
The array will include three of the company’s next-generation Oyster wave power devices, and the first 800kW Oyster 800 device has been deployed at Billia Croo near Stromness in Orkney last month.
Two further Oyster wave power devices will be deployed in 2012 and 2013.
Scottish Enterprise and the Carbon Trust Marine Renewables Proving Fund have supported the Oyster project, through their grant funding.
