Australian company BioPower Systems has secured land access, onshore development rights and project intellectual property.
BioPower Systems expects to commence works at the site by the end of this year and to initially produce energy using a 250 kW bioWAVE™ ocean wave energy system.
A commercial wave farm using an array of 1 MW bioWAVE™ units would follow, the company has said.
Preliminary assessments suggest that the site could accommodate up to 100 MW of installed capacity, which would provide renewable energy for up to 55,000 Victorian households.
Article continues below…Pre-development work at the site was conducted by Diamond Energy, an Australian private company that develops accredited renewable energy projects and also retails clean electricity.
Diamond Energy conducted investigative studies to confirm suitability of the marine site and capacity of the local power distribution grid.
BioPower Systems has signed agreements with Diamond Energy, the local landowner, and an onshore facilitator, who will all provide support to the project.
BioPower Systems CEO Dr Timothy Finnigan said Port Fairy is a premier location for the wave energy farm, crediting the “strength and consistency” of the swell.
Investigations and planning for the first phase of the project have commenced.
