Reedsport OPT Wave Park, a wholly-owned subsidiary of Ocean Power Technologies (OPT), has received permission to build 1.5MW, grid-connected wave power station off Reedsport in Oregon.
This move marks the first US Federal Energy Regulatory Commission (FERC) license issued for a wave power station in the US.
The regulatory approval is for the deployment of up to ten OPT devices generating enough electricity to power about 1,000 homes.
The initial PowerBuoy's construction is nearing completion and is likely to be ready for deployment about 2.5m off the Reedsport coast later this year.
OPT has received funding for this first system from the US Department of Energy, with the support of the Oregon Congressional delegation, and from Oregon-based PNGC Power.
OPT chief executive Charles F Dunleavy said that the issuance of this license by FERC is an important milestone for the US wave energy industry as well as for the firm.
"It represents the culmination of thorough due diligence and consideration of input from a broad array of groups interested in our Reedsport project," Dunleavy added.
"The 35-year term of the license demonstrates the commercial potential of wave power, and this will support initiatives to secure financing for the project."
After deployment of the initial PowerBuoy, the company intends to construct the balance of the wave power station, consisting of up to nine additional PowerBuoys and grid connection infrastructure.