Pacific Gas & Electric has inked a groundbreaking deal with Finavera Renewables, pledging to buy the equivalent of 2MW of wave energy-derived power by 2012 - becoming, in the process, the first U.S. utility to make such an investment. The purchase could lead to the construction of a wave farm 2.5 miles off the coast of Eureka in Humboldt County, in Northern California; the farm would create a network of “AquaBuoys,” the Canadian company’s wave turbines. Excitement over wave energy’s rosy prospects in coastal states like California have led many to deem it this decade’s new wind . Keep reading
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