An agreement to develop wave power projects off the east and south coasts of Australia has been signed by Ocean Power Technologies (Australasia) Pty Ltd  and Leighton Contractors Pty Ltd it was announced today (19th December). The initial phase of work will, says the company, be for OPTA to identify potential project sites and assess their commercial prospects, under contract from Leighton.

Once the sites have been selected Leighton will obtain approvals, negotiate power purchase agreements, structure project financing, and oversee project delivery and operation of the power stations. The agreement means that OPTA will sell its PowerBuoy wave power station to special purpose companies formed by Leighton for the projects.

Leighton Contractors employs over 9,000 people and has Au $9.0 billion in projects. Over the past 50 years, Leighton has played an active role in building Australia's ports and marine facilities, transportation infrastructure, and energy projects including the wind and offshore oil and gas sectors.

Commenting on the agreement, OPT's Chief Executive Officer, Dr. George W. Taylor, said "Leighton is one of Australia's major infrastructure providers, with an annual turnover of several billion dollars. Its project development and delivery expertise will contribute to making the Australian market a major regional hub for the introduction and commercialization of OPT's unique, ocean tested wave power technology. Leighton is an early mover in the rapidly developing market for renewable energy, and we are delighted they have decided to form an alliance with us, as the Australian appetite for renewable energy and carbon reduction strategies is increasing."

Phil Cooper, Executive General Manager for Leighton Contractors, said that OPT's track record and technical strength make it an ideal partner for Leighton Contractors. "OPT's PowerBuoy technology will play an important role in developing alternative energy solutions across Australia," Mr. Cooper noted.