EU Horizon 2020 programme grants EUR 17 million for wave power research project coordinated by Fortum. Wello will deliver Penguin wave energy converters to the project. 

The European Commission’s research and innovation programme Horizon 2020 has granted EUR 17 million in funding for the Clean Energy From Ocean Waves (CEFOW) research project that is coordinated by Fortum. The mission of the five-year project is to research and develop the use of the Penguin wave energy converter, developed by the Finnish company Wello, in electricity grid connected ocean conditions. The multi-device test project will be carried out at Wave Hub, the wave power-focussed test centre, located in Cornwall, Great Britain, where Fortum has a leased sea area.

In the project, Finnish wave power technology is being developed and operated in collaboration with British and Swedish experts. The EU has granted EUR 17 million of the project’s total budget of EUR 24.5 million. In addition to Fortum, the joint project consists of Wello Ltd, Mojo Maritime Ltd, Wave Hub Limited, Green Marine (UK) Ltd, Uppsala University, Plymouth University and the University of Exeter.

Read Fortum's press release

 

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