Bord Gais buys stake in wave energy firm
Bord Gais today revealed plans to tap into one of the best wave resources in the world, off Ireland's west coast.
The firm announced it had taken a 20pc stake in Irish wave farm development business Tonn Energy.
A team of surfers this week rode a 50ft wave 2km off the west coast.
John Mullins, Bord Gais chief executive, said some of the best wave resources in the world are in the Atlantic.
"The potential of the Irish wave energy resource is enormous and Irish utilities are determined to capitalise on that resource," said Mr Mullins.
"In addition to fostering the development of wave energy technologies like the Wavebob, it is important that utilities such as Bord Gais play their part in the development of the first wave farms."
Established in 2008, Tonn is a joint venture development company between the Swedish power utility Vattenfall AB and Wavebob, an Irish wave technology company.
Harvey Appelbe, Tonn Energy's project director, said the Bord Gais decision to engage in wave farm development was a key turning point for Irish wave energy development.
"Ireland has a unique growth opportunity having immense clean and renewable wave energy," he said.
"Care has been taken to put in place co-ordinated planning and procedures in Ireland but we must now start working together to build wave farm projects, before Ireland loses the opportunity to other countries."