HELSINKI: A research project coordinated by Finnish energy company Fortum has been granted €17 million in funding by the European Commission’s research and innovation program Horizon 2020.
The total budget of the Clean Energy from Ocean Waves (CEFOW) project is €24.5 million. The five-year project seeks the advancement of Finnish wave power technology in collaboration with British and Swedish experts. Its chief focus is research surrounding the Penguin wave energy converter, developed by Finnish company Wello, in electricity grid connected ocean conditions.
“We believe that the funding from the European Commission and the experienced collaboration partners create excellent conditions for making great strides forward in commercialising Wello’s wave power technology,” says Heli Antila, Chief Technology Officer at Fortum. “On a global scale, this project is at the vanguard of wave power research.”
