Renewable Energy Holdings hoping to build CETO wave farms in Bermuda

Tuesday, August 05, 2008

Renewable Energy Holdings has entered into a Memorandum of Understanding with Triton Renewable Energy Limited, based in Bermuda to negotiate and agree the terms of a joint venture to build and operate wave farms in Bermuda using Renewable Energy Holdings proprietary CETO wave power technology.An initial test site of 2MW will be developed and subsequently a grid connected 20MW installation. It is intended that Triton provides services to facilitate the development of the wave farms and Renewable Energy Holdings grants the rights to use its CETO technology and provides engineering support during the construction and on-going operation of the wave farms. Negotiations are expected to be concluded by the end of 2008.CETO technology distinguishes itself from other wave energy devices by resting out of sight on the ocean floor and generating electricity on-shore. An array of submerged buoys is tethered to seabed pump units. The buoys move in harmony with the motion of the passing waves, driving the pumps which in turn deliver sea water at pressure ashore via a pipeline. The high-pressure seawater can then be used to drive hydro turbines, generating zero-emission electricity. In addition, the high pressure sea water can be used to supply a reverse osmosis desalination plant, replacing greenhouse gas emitting pumps usually required for such plants.Mike Proffitt, Chief Executive Officer of REH, commented: 'It is currently very expensive to generate electricity in an island environment, due to the high cost of imported fuel oil. CETO provides an economic and clean solution to this problem. Bermuda has an excellent wave regime and there are several sites which we believe would be suitable for a CETO wave farm. There is also the added advantage of being able to provide desalinated water with the CETO technology, which is another benefit of deploying our technology on islands.'