Ocean Power Technologies to deploy Oregon PowerBuoy

Final testing of the PowerBuoy has continued to be on track for completion ahead of final assembly and readiness for deployment in October 2012, as announced previously

Pennington, N.J., September 27, 2012 — Ocean Power Technologies will deploy its utility-scale PowerBuoy off the coast of Reedsport, Oregon in spring 2013.

Final testing of the PowerBuoy has continued to be on track for completion ahead of final assembly and readiness for deployment in October 2012, as announced previously.

The PowerBuoy, which incorporates a proprietary new direct drive power take off system, will be the first of up to 10 proposed devices that are licensed by the Federal Energy Regulatory Commission for the grid-connected Reedsport OPT Wave Park. The project size of 1.5 MW of electricity would be enough to power about 1,000 homes.

Subject to weather conditions, the company had thereafter planned to tow the completed device about 300 miles from the Portland area dry dock to its deployment site about 2.5 nautical miles west of Reedsport.

The early onset of unfavorable weather conditions in recent days has significantly impacted the installation of moorings. In addition, uncertainty regarding weather conditions over the October timeframe has increased the risks of incurring substantial deployment vessel "standby" costs and adverse safety conditions while transiting the buoy over the distance from the dry dock to the deployment site.

The buoy itself is designed to perform well during severe weather once installed, but during transit there are concerns for towing stability in the harsh conditions now more frequent. Furthermore, following deployment there is a required period of time for commissioning the PowerBuoy for full operation, which also may need some level of marine operations.

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