OPT's latest renewable energy project in wave power technology includes MacArtney infrastructure
Ocean Power Technologies (OPT)
OPT is a leading wave power technology company based in the UK and USA. The company is commercialising its PowerBuoy® and offshore connections technology to convert and transmit wholesale amounts of electrical power from offshore. In 2007, OPT raised US$100m through its listing on NASDAQ and in 2003 OPT raised US$40m by listing on the London Stock Exchange's AIM market.
Offshore Power Transmission
The majority of offshore renewable energy systems, including wind, tidal and wave, generate power at low voltage and need to step-up the voltage to medium or high voltage for efficient transmission to shore. Additionally, offshore projects typically have a number of devices (turbines, wave energyconverters, tidal devices) that need to be networked offshore such that a single subsea cable can export the power to the shore. OPT has fully analysed these requirements and developed an innovative solution called the USP or Underwater Substation Pod.