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Finavera Renewables: FERC to Streamline Ocean Energy Permitting Process for Pilot Projects
Finavera Renewables: FERC to Streamline Ocean Energy Permitting Process for Pilot Projects.
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[{"type":"text","content":"\n\n\n\nVANCOUVER, CANADA, July 23 /CNW/ - The United States Federal Energy\nRegulatory Commission (FERC) announced a proposal to shorten the permitting\nprocess for pilot ocean energy projects to as little as six months. As part of\nits proposal, FERC will convene a public hearing on licensing pilot projects\nin Portland, Oregon on Oct. 2, 2007.\n\n\nFinavera Renewables (TSX VENTURE:FVR) CEO Jason Bak said, "We look\nforward to the hearing in October and want to extend our thanks to the FERC\ncommissioners and staff for the tremendous commitment they've shown to\noffshore wave energy development. This decision shows strong leadership in\npromoting a clean, environmentally friendly renewable energy source that has\nthe potential to satisfy a significant portion of the total energy demand in\nthe United States."\n\n\nThe proposal made by FERC is for projects five megawatts or less,\nremovable or able to shut down on relatively short notice, located in waters\nthat have no sensitive designations, and for the purpose of testing new hydro\ntechnologies or determining appropriate sites for ocean, wave and tidal energy\nprojects.\n\n\nTo date, the regulatory process has been one of the primary hurdles to\nthe commercialization of offshore wave energy. Trial projects have taken years\nto move through the permitting process, taking away valuable time in enacting\na technology that shows great promise in reducing dependence on fossil fuels.\n\n\n"By proposing to reduce barriers in the permitting process for trial\nprojects, the Commission is providing a framework for projects that fall\nwithin its jurisdiction, and for state-led initiatives as well," continued\nBak. "FERC is providing a significant boost for the industry."\n\n\nOn behalf of the Board of Directors,\n\n\nJason Bak, CEO\n\n\nAbout Finavera Renewables Inc. (www.finavera.com)\n\n\nFinavera Renewables Inc. is dedicated to the development of renewable\nenergy resources and technologies. The Company's objective is to become a\nmajor renewable and green energy producer by developing and operating its\nassets in the wind and wave energy sectors. Finavera Renewables Inc. is\ndeveloping the licensed and patented 'AquaBuOY' wave energy technology, a\ndevice that is based on proven and sustainable buoy technology. The Company is\ndeveloping wave energy pr...