Portugal and Ocean Energy

According to this article from Forbes, Wave Power Could Provide 20 percent of Portugal's Electricity (11/10/05). The article reports:

Wave power plants around Portugal's coast could generate 20 pct of the country's annual electricity needs, worth about 5 bln eur, according to a study by wave energy centre CEO, Agencia Financeira reported. Portugal has a potential wave power capacity of 5 gigawatts, the centre estimates, noting that the entire global wave power market is worth only 350 mln eur at the moment. Opportunities for wave power in Portugal are a 'reality' as there is a major internal market for this kind of energy by virtue of the government's target for 39 pct of the country's electricity to be produced from renewable sources, the study said.

It's great that Portugal is so forward looking on wave energy - though if US policy doesn't change soon, we may see our developers heading over there. Which would be a shame.