FERC licenses Finavera Wash. wave power project

NEW YORK, Dec 20 (Reuters) - U.S. federal utility regulators on Thursday issued the first license for a wave power project in the Pacific Ocean off the coast of Washington State.

In a release, the Federal Energy Regulatory Commission said Finavera Renewables Inc's (FVR.V) Makah Bay Offshore Wave Pilot Project will harness electricity from wave energy.

"Consumers are demanding more renewable energy options, especially those sources that are domestic, renewable and carbon-free," said FERC Commissioner Philip Moeller in the release.

The federal license gives Finavera a five-year license for the proposed project, conditioned on the company obtaining all necessary permits before starting construction.

Finavera wants to build the project in Makah Bay about 1.9 nautical miles offshore of Waatch Point in Clallam County.

It will consist of four 250-kilowatt steel wave energy conversion buoys and an associated mooring/anchoring and electrical connection system; a 3.7-statute-mile-long, direct current underwater transmission cable connecting from one of the buoy's power cables to the shore station; and a 20-foot, 12-kilovolt transmission line to connect the shore station to the nearby existing Clallam County Public Utility District distribution line.

OTHER FINAVERA PROJECTS

On Dec. 18, PG&E Corp's (PCG.N) Pacific Gas and Electric Co subsidiary and Finavera said they agreed to enter into a long-term two-megawatt commercial wave energy power purchase agreement.

Finavera expects the Humboldt County Offshore Wave Energy Power plant off the Northern California coast to enter service in 2012.

Finavera wants to build the Humboldt County project, which will the company says will displace about 245 tons of carbon dioxide annually, about 2.5 miles off the Humboldt County coast.

The power purchase contract calls for Finavera to deliver 3,854 megawatt-hours of power from the Humboldt County project a year.

Finavera, of Vancouver, British Columbia, is developing wind projects in Canada and Ireland in addition to its wave projects, (Reporting by Scott DiSavino)