EDF pours £3 million into waves

What can £3 million buy you these days? Greenbang would like to be able to tell you first hand but, alas, can’t. Speaking hypothetically, it can get you some interest in wave power, as EDF Energies Nouvelles is buying a stake in Renewable Energy Holdings for just that amount, after the two signed a collaboration agreement.

The terms of the collaboration agreement will permit EDF EN exclusively to develop offshore wave power projects in the Northern Hemisphere and at Reunion Island in the Indian Ocean using REH’s proprietary CETO wave power technology. […]

Paris Mouratoglou, Chairman of EDF Energies Nouvelles, said: “EDF Energies Nouvelles is committed to develop new renewable energy technologies. The wave energy potential is very significant and has been identified as one of our future sources for growth. We are delighted to announce the signing of our final agreement with REH and look forward to a successful development of the promising CETO technology.”