DUBLIN Oct 15 Irish-owned company Wavebob
received a boost on Thursday when the country's Electricity
Supply Board (ESB) utility signed a deal to help develop its
wave energy converter technology.
About 100 companies worldwide are vying for a share of a
market that The World Energy Council estimates could potentially
provide about 10 percent of world electricity consumption.
Wavebob says its design -- a buoy structure that absorbs
energy -- is the first such Irish device and one of only a small
number worldwide to harness ocean wave energy and produce
Thursday's deal will see the international arm of Ireland's
former monopoly electricity company provide engineering services
for the design of Wavebob's first grid-connected device which is
scheduled to be installed in Portugal in 2011.
"This agreement fits with ESB's strategic commitment to the
development of a wave and tidal energy industry in Ireland that
will support the economy through the development of new green
jobs," Michael McNicholas, ESB International's executive
director said in a statement.
Ireland's government, which includes junior coalition
partners the Green Party, signed a revised programme for
government last week which included a commitment to create
120,000 "green collar" jobs over the next few years.
(Reporting by Padraic Halpin; Editing by Keiron Henderson )