Wave Energy: Harnessing Ocean Power


Technology 0214 WaveEnergy

Lockheedmartin.com. Lockheed Martin signs contract to begin development of largest wave energy project. The large, powerful waves off the Australian coast offer some of the world’s best surfing. Those waves will soon provide power for more than just surfers.

On the heels of signing a contract to construct the world’s largest Ocean Thermal Energy Conversion (OTEC) power plant, Lockheed Martin continues to make innovative waves in ocean energy, announcing February 11 that it has signed a contract with Victorian Wave Partners Ltd. to begin developing the world’s largest wave energy project announced to date.

The 62.5-megawatt peak power wave energy generation project will be built off the coast of Victoria, Australia, using Ocean Power Technologies' (OPT) PowerBuoy® wave energy converter technology. Contributing to Australia’s goal of 20 percent renewable energy by 2020, the project is expected to produce enough energy to meet the needs of 10,000 homes.

“We are applying our design and system integration expertise to commercialize promising, emerging alternative energy technologies, including ocean power,” said Tim Fuhr, director of ocean energy for Lockheed Martin’s Mission Systems and Training business. “This project extends our established relationship with OPT and Australian industry and enables us to demonstrate a clean, efficient energy source for Australia and the world.”

Victorian Wave Partners Ltd. is an Australian special purpose company owned by Ocean Power Technologies Australasia Pty Ltd. As a leader in wave energy technology development, OPT will lead the project, while Lockheed Martin will provide overall project management, assist with the design for manufacturing of the PowerBuoy technology, lead the production of selected PowerBuoy components and perform system integration of the wave energy converters.

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