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June 17, 2010
OREC Begins 2010 Membership Drive
OREC Member Signs MOU for Development of Tidal Power in China
Longtime OREC Member, Verdant Power, has entered into a memorandum of understanding with the China Energy Conservation Environmental Protection Group (CECEP), to develop tidal energy power projects in China. According to a recent Press Release, the MOU is the first of its kind between China and the U.S. involving marine and hydrokinetic power projects.
U.S. Department of Commerce Secretary Gary Locke, and U.S. Ambassador to China Jon Huntsman were on hand to witness the signing. The MOU marked a stop on Secretary Locke's three-day clean energy trade mission in China. Secretary Locke traveled with several U.S. businesses to focus on opportunities for U.S. renewable energy technology developers in China's growing energy market.
For more information on the MOU, visit here - http://www.sustainablebusiness.com/index.cfm/go/news.display/id/20408
Pennington, New Jersey - June 2, 2010 - Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT) ("OPT" or the "Company") is pleased to announce the appointment of Brian M. Posner as Chief Financial Officer, effective June 1, 2010.
Mr. Posner, 48, is a financial executive with over 25 years of experience in both public and private companies, with a notable track record in working with capital markets, regulatory and accounting matters and strategic alliances.
Charles F. Dunleavy, Chief Executive Officer of Ocean Power Technologies, commented: "We are very pleased to welcome Brian Posner to OPT. He brings an important depth and scope of financial experience and leadership skills to the Company as we move to the next stage of the commercialization of our wave power systems in global markets. Brian has a proven track record of success in the financial management of companies focused on bringing new products to market, and in effectively communicating with the capital markets. This background is important to the Company's growth, and we welcome him to the senior management team."
More information can be found at www.oceanpowertechnologies.com.
FERC To Get a Bite at the Feed-In-Tariff Issue
In an effort to meet its aggressive state wide RPS (renewables portfolio standard) of 20% renewables by the end of 2010 and 33% by 2020, the state of California is leaving no stone unturned in exploring different mechanisms to stimulate development of renewable energy. One of California's recent initiatives is a feed-in tariff, a policy mechanism under which a renewable energy developer is guaranteed a power supply contract with a utility at favorable rates set by the state public utilities commission. However, many California public utilities oppose a mandatory feed-in tariff, because they fear it may result in higher rates.
But in addition to the policy arguments (whether ratepayers should bear the cost of renewable development), the utilities have a legal argument as well. Under the Federal Power Act, FERC has exclusive authority to establish and review rates for wholesale transactions. Thus, the utilities claim that the California Public Utilities Commission (CPUC) is preempted by the FPA from implementing a feed-in tariff because in doing so, the CPUC is setting rates for wholesale transactions, an activity exclusively within FERC's jurisdiction.
To clarify the uncertainty, on May 4, 2010 the CPUC filed a request for a declaratory order at FERC, asking it to find that the FPA does not preempt the CPUC's feed-in tariff program. The CPUC argues that the feed-in tariff is part of a broader state environmental and clean energy policies, matters which FERC has previously found are outside of its jurisdiction and over which states have broad discretion. On May 11, 2010, Southern California Edison, a California utility filed its own petition for Declaratory Ruling, asking FERC to find that the FPA preempts California from imposing a feed-in tariff.
FERC is currently soliciting comments, protests and interventions in both dockets, EL10-64 and EL10-66 with deadlines to intervene set as June 3 and June 10, 2010. It is expected that FERC may consolidate the dockets. OREC will be monitoring the FERC proceeding and providing continuing updates on this important issue.
Related Documents:
CPUC Petition for Declaratory Order: http://elibrary.ferc.gov/idmws/common/opennat.asp?fileID=12338073
SCE Petition for Declaratory Order: http://elibrary.ferc.gov/idmws/common/opennat.asp?fileID=12344286
NREL Policy Report on Feed-in Tariffs http://www.nrel.gov/docs/fy10osti/47408.pdf
FERC-California MOU on MHK
The Federal Energy Regulatory Commission (FERC) and the State of California have signed a Memorandum of Understanding (MOU) to coordinate procedures and schedules for review of hydrokinetic energy projects off the California coast.
This marks the fourth hydrokinetics MOU that FERC has signed with other states, following agreements signed last year with Washington and Maine, and with Oregon in 2008. Today's agreement ensures that FERC and California will undertake all permitting and licensing efforts in an environmentally sensitive manner, taking into account economic and cultural concerns.
The FERC's announcement of the MOU is available here: http://www.ferc.gov/news/news-releases/2010/2010-2/05-18-10.asp. To view the full FERC-California MOU, view here: http://www.ferc.gov/news/news-releases/2010/2010-2/05-18-10.pdf
For access to the Oregon, Washington and Maine MOUs, visit- http://lawofficesofcarolynelefant.com/renewablesoffshore/?p=418
The Next Generation of Aquamarine Power's Oyster Comes Out of Its Shell
On Wednesday, May 20, Aquamarine Power unveiled the next generation in its development of wave energy machines. Dubbed the Oyster 2, the new 800 kilowatt model will be capable of producing 250 percent more power compared to its predecessor. The Oyster 2 has fewer moving parts, and is also modular so that parts can be swapped out for maintenance as needed.
For more information on the story, visit- http://news.cnet.com/8301-11128_3-20005469-54.html
Pelamis 2 Launches
Meanwhile, joining the second generation of the Oyster is the second generation of the Pelamis Wave Energy Converter. Known as the Pelamis 2, the 750 kilowatt wave energy device is en route for installation at EMEC in Orkney Scotland. According to the Wall Street Journal (May 18, 2010), "the installation of the Pelamis wave energy converter at EMEC is the first time the P2 machine has been tested anywhere in the world and also represents the U.K.'s first commercial supply contract within the marine energy sector."
For more information, visit- http://online.wsj.com/article/BT-CO-20100518-706614.html?mod=WSJ_latestheadlines
Wave Hub Humming Along On Schedule
Construction of the Wave Hub project, which will create the world's largest test site for wave energy technology off the UK's Cornwall coast, is on track for completion this summer. Wave Hub represent's the UK's first offshore demonstration facility for arrays of wave energy generation projects. Wave Hub participants can plug and produce at Wave Hub which provides an area of sea with grid connection and plnning consents for operating devices for several years.
For more information on progress of the project, visit-
http://www.energydigital.com/sectors/commercial/wave-hub-test-site-construction-schedule
Navy Catching Waves in Hawaii
As the US Navy moves towards decreasing its dependency on fossil fuels, it is looking to wave power as an avenue to achieve its energy goals. The Navy's maiden voyage is a joint venture with Ocean Power Technologies' wave power buoy off the shore of Marine Corps Base Hawaii.
For more information on the project, visit-
http://www.energyempowers.gov/post/wave-energy-marine-corps-base-hawaii.aspx
EMEC Expands to Attract Wave and Tidal Prototypes at Earlier Development Stages
The Orkney-based European Marine Energy Centre (EMEC) has identified "nursery sites" in the islands to plug the gap between test tanks and full ocean conditions for unproven energy devices. The berths are being developed with funding from the UK Department for Energy and Climate Change (DECC), subject to issues including consents and seabed lease agreements.
For more information on the expansion, visit-
"World's first commercial tidal array" planned in Skye waters
UK-based Pulse Tidal has announced plans for what it believes will be the "world's first" commercially-viable tidal energy array at Kyle Rhea, in the waters between the Isle of Skye and the Scottish mainland.
The company, which was awarded €8 million (£7.3 million) from the EU towards the costs of the project in December 2009 hopes to deliver electricity at the site at an installed cost of £4 million per MW. The Kyle Rhea straits are believed to have the potential to produce 20MW.
For more information on the conducted studies and planning of the tidal array, visit-
Near Shore Waves Better Than Expected for Wave Energy
http://www.renewableenergyfocus.com/view/9462/nearshore-waves-better-than-expected-for-wave-energy/
OREC Speaking Events
On May 4, 2010, OREC President Sean O'Neill and counsel Carolyn Elefant spoke on a panel at the UNESCO Oceans Conference in France on financial incentives and permitting policies for offshore wind, wave and tidal projects in the United States. Presentations from the conference will be posted at globaloceans.org
May 10 & 11 U.S. and All-Island Renewable Forum: Marine Energy and Smart Grid Forum, Dublin Ireland, OREC Participants: Sean O'Neill, Damian Kunko, Scott Lindsay, Derek Robertson (WAVEBOB), James Ives (OpenHydro),
May 27, 2010 13th Annual Congressional Renewable Energy and Energy Efficiency EXPO + Forum
Cannon House Office Building, Washington D.C.
OREC Speakers: Sean O'Neill.
OREC and Ocean Power Technologies, Inc. each had tables at this all day event.
Efficiency + Renewables = Green Jobs!
June 3, 2010 Inaugural NEMA Marine Renewable Energy Section meeting, Washington D.C. National Electrical Manufacturers Association
OREC Speakers: Sean O'Neill, Bill Staby (Resolute Marine Energy)
June 17 & 18 The Business of Clean Energy in Alaska, Anchorage, Alaska
Renewable Energy Alaska Project (REAP)
OREC Speaker: Sean O'Neill
From the U.S. Department of Energy
Energy Efficiency & Renewable Energy
The Green Power Network
Deadline: June 28, 2010
PPL Electric RFP
seeking to procure over 850,000 MWh of eligible Alternative Energy Credits
(AECs) for PPL Electric Utilities Corporation to meet the Pennsylvania
Alternative Energy Portfolio Standards through a multi-solicitation process. Qualifications
are due by noon on Monday, June 28, 2010.
NERA Contact: Ben Chee,
215-568-0200/914-473-8870
Deadline: July 6, 2010
Defense
Energy Support Center RFP seeking 320,604,000 kWh of Renewable Energy
Certificates for ultimate transfer to U.S. Air Force and various Federal
Civilian customers. Contract(s) are anticipated to be one time deliveries
starting on August 1, 2010.
Contact: Ashleigh Johnson,
703-767-8561 | Cindy Ralph,
703-767-8566