Enova awards in the amount of 200 million were given to ten different projects in renewable heat, energy efficiency in buildings and industry, and technology. Among these projects, the project which will make us of ocean waves received 25 million financial support.
The project involves a wide range of measures in energy efficiency by developing new technology for production of energy from the tides and oceanic waves. It will be a breakthrough for investment in green energy in the north. The first results will come from the fall of 2009, and all measures will be completed by the end of 2012.
It is believed that a large investment in green electricity from tidal and ocean waves can provide great opportunities for North Norway. Hydra Tidal has the vision to build a production line with 1,000 to 1,500 jobs. the project is expected to develop many new green jobs based on North Norwegian competence and technology. As the Danes made wind power function as a major export industry, the project is expected to bring a similar investment in green energy for Norwegian industry.