The PB40 PowerBuoy will be installed close to 30 nautical miles southeast of the New York City Harbor.
Ocean Power is installing mooring lines for the buoy and are monitoring for a suitable weather window for buoy deployment.
The installation of the PB40 will provide performance data and will enhance company’s expertise in the use of renewable Marine Hydrokinetic devices of various sizes in providing gridindependent power for customers in the ocean observing, offshore wind, oil & gas, and security and defense markets.
Ocean Power Technologies president and CEO George Kirby said: "We believe this deployment will enhance dialogue with potential customers and partners interested in enabling and cost-effective energy solutions for their offshore energy needs.
"We appreciate the investment made by the DOE’s Water Power Program in 2010, as well as investments made by the European Union to support the PB40 development and to advance the U.S. marine renewable energy industry."
The permitting process for Ocean Power’s APB-350 A1 deployment is currently underway, with planned completion in the summer this year.