Ocean Power Technologies has deployed its first PowerBuoy under contract with Iberdrola and its partners, at a site approximately three miles off the coast of Santona, Spain.

The deployment represents an important step in Ocean Power Technologies’s (OPT) commercialization of wave power as an economically-viable source of renewable energy. Other partners involved in the venture are Total, Sodercan and IDAE.

The project began with OPT’s development of the Santona site, followed by OPT’s receipt of the engineering, procurement and construction contract under which it would build and install the first PB40 PowerBuoy system, subsea power transmission cable and underwater substation and grid connection. In a subsequent agreement, OPT was also contracted for operations and maintenance of the wave power station for up to 10 years.

Mark Draper, COO of OPT, said: This deployment is of great significance to OPT and the wave power industry, demonstrating the commercial potential of our leading technology after a decade of in-ocean experience.