Wave energy firm signs US deal

WAVE energy company Ocean Energy has signed a deal with US multinational Dresser-Rand which has boosted Ireland’s aspirations for autonomy in its future electricity generation.

This partnership could lead an Irish industry generating 600MW of electricity by 2020, or enough to supply the annual electricity needs of 450,000 households, and employing 6,500 people full-time.

Ocean Energy is now on course to have a range of full-scale devices in the water producing commercial electricity by 2014.