Tidal Energy is a largely untapped, renewable energy source based on lunar gravitation rather than solar radiation, a form of hydropower that converts the energy from water inflows and outflows into pure electricity.
Wave power refers to the energy of ocean surface waves and the capture of that energy to do useful work — including electricity generation, water desalination, and water pumping. It is distinct from tidal power in that wave energy is not dependent on rising and falling tides but on consistent rolling waves, and similar to tidal power in that both are husely untapped green energy resources perfect for populations living near coastlines.
Here are some tidal power and wave energy stocks in the news recently:
The beach at Agucadoura, just north of Porto, is where electricity from the world's first wave farm is being cabled ashore. Five kilometres out to sea a Pelamis wave machine is gently riding the Atlantic swell, generating power for the Portuguese grid.
Each one has four long sections with three "power modules" hinged between them. There are large hydraulic rams sticking into the modules. As the long sections twist and turn in the waves they pull the rams in and out of the modules like pistons. The huge force of the rams is harnessed to run generators in the power modules. But tethering the snakes to the seabed is a major challenge. The system has to be able to cope with the worst sea conditions.
Full Article on Pelamis Wave Power on BBC.co.uk
23SEP08 - Ocean Power Technologies announces launch of first wave energy system off Spain. OPTT has deployed the initial 40 kilowatt PowerBuoy, the beginning of an array that will produce about 1.4 megawatts, after 9 bigger versions of the PowerBuoy are launched over the next year. Partnered with companies such as Iberdola in Spain and Total in France, OPTT expects to develop additional wave power farms off UK, France and Hawaii.
23SEP08 - The Scotland Government pledges more funds for wave energy and tidal power. Already a world-leader in development of energy from water flow systems, with world-class installations in operation in the Orkney Islands area, the Scots have stepped up to the plate with additional funding for emerging renewable energy technology companies in the wave power and tidal energy sectors.
18SEP08 - Verdant Power updating technology within its tidal energy generators in NYC's East River. Verdant Power has retrofitted two of its tidal turbines with 5th-generation rotors and successfully re-installed the units in the East River. The two grid-connected 35kW turbines are now delivering clean renewable energy from the tides of the East River to a Gristedes supermarket and the RIOC Motorgate parking structure on Roosevelt Island in New York City. Verdant Power's Kinetic Hydropower Systems use axial-flow turbines, resembling present-day wind turbines, installed underwater to convert the kinetic energy of tides and rivers into electricity without the use of dams.
The company's new rotor assembly (blades and hub) was optimized for enhanced structural strength and was subjected to a testing regimen at the U.S. Department of Energy's National Renewable Energy Laboratory (NREL), the nation's primary laboratory for renewable energy and energy efficiency research and development. The entire rotor assembly passed the tests successfully without incident.
Full article on Phase 2 of Verdant Power's Roosevelt Island Tidal Energy (RITE) Project.
09SEP08 - Atlantis Resources acquires tidal power developer Current Resources from Morgan Stanley.
Atlantis has developed two families of sub-sea turbines that have been tested over a decade of field trials, Solon, a deep-water turbine suitable for installation in some of the fastest flowing currents in the world and Nereus, a shallow-water turbine which has been extensively tested, and grid connected in San Remo, Australia. Both have been specifically developed to suit installation of multiple turbines in fields or arrays.The company is currently evaluating potential installation opportunities in the Pentland Firth off Northern Scotland, in the Bay of Fundy and British Columbia off the East and West Coasts of North America, respectively, as well as off the coast of South Korea.
Further green stocks investing news:
Wind power stocks, wind energy investing news
Solar power companies, solar energy stocks in the news
Geothermal investing, top geothermal companies