OLYMPIA, Wash., Dec. 21 (UPI) -- The waters off Makah Bay in Washington state may house the first commercial wave plant, the Seattle Times reported.
The Federal Energy Regulatory Commission issued Thursday the license to British Columbia-based Finerva Renewables for the hydrokinetic energy project to be located near the tip of the Olympic Peninsula, the paper reported.
Finerva also plans a wave-energy plant in California that's vying to become the first commercial plant of its kind in the nation, the paper said.
Electricity from the Makah Bay Wave Pilot Project could supply at least 150 homes by 2011.
"This is very, very significant," Jason Bak, Finavera's chief executive officer, told the newspaper. "The road has pretty much been cleared for us."
The company still needs investors and has no power-purchase agreement. Under the conditions of the FERC license, Finavera cannot begin construction until it gets all the necessary environmental permits, the paper said.