Pelamis up for sale

SWEDISH energy giant Vattenfall behind the Aegir wave farm west of Shetland is unconcerned by news that their partner Pelamis Wave Power (PWP) has been put up for sale.

Leith-based Pelamis placed themselves on the market earlier this month due to increasing financial losses.

The company hopes to attract a large global player able to invest up to £20 million to bring their wave energy technology to fruition.

Vattenfall’s head of ocean energy Veijo Huusko said on Thursday: “Vattenfall remains committed to Aegir and the development of a wave farm off the Shetland Islands and we are confident that PWP will be successful in its search for a strategic industrial partner.”

He added that Vattenfall was not interested in buying the company. “Vattenfall is a power utility, focused on the generation of electricity from a diverse and sustainable portfolio of energy sources.

“In ocean energy our role is as the owner and operator of wave farms. Consequently we do not invest in wave technology companies. We select and purchase the best available technology.”

The Swedish firm has also signed a memorandum of understanding with Shetland Islands Council to develop a wave energy industry in the isles.

The council is considering investing as a shareholder into the first phase of the Aegir projects, a 10 megawatt wave farm, west of Burra.