Pelamis Wave Power Ltd.

In what owners claim to be the world’s first commercial wave-generated power project, three snake-like Pelamis machines recently began generating electricity 5 km off Aguçadoura, Portugal. Each 140-m-long, 3.5-m-dia. articulated machine can produce 25% to 40% of its rated 0.75-MW capacity over a year, claims developer Pelamis Wave Power Ltd., Edinburgh, U.K., formerly Ocean Power Delivery. The $13-million project was led by Australian financier Babcock & Brown and includes local power company Energías de Portugal. Another 25 units are planned.