IBERDROLA AND TECNALIA INSTALL WAVE ENERGY DEVICE - GUIP�ZCOA

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IBERDROLA AND TECNALIA INSTALL WAVE ENERGY DEVICE - GUIP�ZCOA Powered By Docstoc
					                                                                             




                                                                                15 October 2008


Within the framework of the Oceantec Project which, developed by both
companies, aims to encourage industrial growth in the Basque Country


IBERDROLA AND TECNALIA INSTALL THE
FIRST PROTOTYPE FOR PRODUCING WAVE
ENERGY ON THE COAST OF GUIPÚZCOA

       •      Once the testing of this first device is completed, both
              companies plan to work on an actual size prototype capable of
              producing in one year a quantity of renewable energy
              sufficient to supply the domestic consumption of some 950
              homes

       •      The Oceantec Project, which has a budget of 4.5 million euros,
              is being developed through Perseo, the company for
              promoting investment in R+D established by IBERDROLA this
              year

IBERDROLA and TECNALIA Corporación Tecnológica, have installed, within
the framework of the Oceantec Project, the first prototype for producing
wave energy on the coast of Guipúzcoa, at the town of Pasajes. This
initiative, which has a budget of 4.5 million euros, aims to install a device
for capturing wave energy at a high performance and a competitive cost.

This first prototype, made in the scale of 1:4, will be in testing for several
months in order to a check its performance and make sure that it involves
no environmental risks. If the results of the technical testing prove to be
favourable, IBERDROLA and TECNALIA plan to develop a new device in
actual size and connected to the electricity network.

This second installation on which both companies are working will have a
power of 500 kilowatts (kW) and should be able to produce in one year a
quantity of renewable energy sufficient for supplying the domestic
consumption of some 950 homes.
                                                                             




The Oceantec Project will enable the generation of business from the
development of a renewable energy source, create opportunities for
industrial growth and restructuring in the Basque Country and support the
use of the energy resource on the coast of this autonomous region.

Along these lines, it is worth highlighting that several Basque companies,
such as Vicinay Cadenas and Metalúrgica Marina, have participated in the
manufacture of the various systems involved in this prototype.

IBERDROLA and TECNALIA Corporación Tecnológica are carrying out this
initiative through Perseo, the company for promoting investment in R+D
established by the electricity company this year. Equipped with an annual
budget of 6 million euros, its main aim is to support projects of high
technological value in the field of renewable energies and the environment.


About IBERDROLA

IBERDROLA considers innovation as a strategic axis for the development of
its activities and as such it features in its Strategic Plan 2008-2010,
presented last year by Ignacio Galán and which plans for an investment of
225 million euros in this area during the three-year period.

The Company has confirmed its position at the forefront of the renewable
energies sector during recent years, with almost 8,000 megawatts (MW) of
installed power at the end of the first half of this year and a portfolio of
projects throughout the world amounting to 54,000 MW.

The commitment to sustainability has earned IBERDROLA various
recognition, notably being designated in 2008 as best utility in the world by
the prestigious Dow Jones Sustainability Index (DJSI) and proclaimed, for
the second consecutive year, as the best electricity company in the world
for its strategy for combating climate change, according to the Climate
Leadership Index.
                                                                             




About TECNALIA Corporación Tecnológica

TECNALIA, -a Technological Corporation incorporating Azti, ESI, Fatronik,
Inasmet, Labein, Neiker and Robotiker- began in 2001 as a private and
independent multidisciplinary technological corporation, with the objective
of contributing to the development of the economic and social environment
through the use and promotion of technological innovation.

In the seven years since then, the Corporation has almost tripled its
turnover, from 40 million euros in 2001 to 111 million in 2007, a figure that
represents an increase of 14% compared with the previous year. The
Corporation plans to invest 86 million euros this year, aimed at developing
R+D projects (56 million euros) and new technological infrastructures and
equipment (30 million euros). 
 
Recently, TECNALIA assumed the Spanish representation in IEA-OES
(International Energy Agency - Ocean Energy Systems), an initiative of the
International Energy Agency, whose aim is to improve international
cooperation so that marine energies may be a significant option for
generating energy in the medium term. IEA-OES is looking to continue the
development and marketing of technologies using marine energies, through
the promotion of research, development, demonstration and exchange of
information. 

				
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Description: Ocean Eneargy - Wave Energy