Pelamis Wave Power and Vattenfall, one of the largest utilities in Europe, have launched a joint venture to develop the first wave power project off the Shetland Islands.

The joint venture company, called Aegir Wave Power, has secured an Agreement for Lease to develop a 10MW Pelamis farm off the southwest coast of Shetland.

Shetland has been selected as a key strategic location for deployment of wave power technology due to the world class resource, combined with the existing skill set and infrastructure that complement the future requirements of the nascent marine energy industry. The current plans for a HVDC link to allow electricity export from Shetland to the Scottish mainland has made a commercial scale wave energy project on Shetland possible.

For more information about the joint venture Aegir project in Shetland, please see the dedicated website:

www.aegirwave.com