Home Archives September 2008 Economy sinks wave energy momentum

Economy sinks wave energy momentum

| Print |  Email
Monday, September 01, 2008

THE COAST   The credit crunch — Oregon’s current fiscal bugbear — can now be blamed for one more thing: a downturn in wave-energy projects.

The industry got a black eye when the state’s first test buoy, which was developed by the Irish company Finavera and Oregon State University, sank last fall. Finavera rescued the buoy in August but said it wouldn’t go ahead with plans to install a second experimental unit.

Since the sinking, the number of companies interested in developing projects off the Oregon coast has dropped from seven to three.  According to Edward Einowski, a partner at Stoel Rives who specializes in renewable energy project finance and development, the economy is partially to blame.

Wave energy — unlike wind — is still an unknown risk, which in a downturn makes finding funding all that much harder, he says. The only option for companies with undeveloped projects may be to wait it out.

But “in the development business,” he says, “time is money. It’s going to be painful to have to wait.”  

ABRAHAM HYATT



Have an opinion? E-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

More Articles

Why I became an Oregon angel investor

Guest Blog
Monday, July 14, 2014
AngelInvestBY TERRY "STARBUCKER" ST. MARIE

I really didn’t know that much about angel investing, but I did know a lot about the entrepreneurial spirit.


Read more...

Blips and trends in the housing market

News
Thursday, June 26, 2014
062614 thumb realestateBY ERIC FRUTS | OB BLOGGER

Last year, the housing market in Oregon—and the U.S. as a whole—was blasting off. The Case-Shiller index of home prices ended the year 13% higher than at the beginning of the year. But, was last year a blip, or a trend?


Read more...

Oregon Business wins awards

News
Monday, June 30, 2014

ASBPEOregon Business magazine won two silver awards for excellence in writing in the National American Society of Business Publication Editors Western region competition.


Read more...

OB Video: Oregon MESA

News
Thursday, June 26, 2014

ThumbOregon Business hosts an informal roundtable discussion about the Oregon MESA (Mathematics, Engineering, Science Achievement) program.


Read more...

Risks & rewards of owning triple net investments

Contributed Blogs
Thursday, July 24, 2014
NNNinvestmentBY CLIFF HOCKLEY | OB GUEST CONTRIBUTOR

With the increasing retirements of Baby Boomers, a massive real estate shift has created a significant increase in demand for NNN properties. The result? Increased demand has triggered higher prices and lower yields.


Read more...

Q&A: David Lively of Organically Grown Co.

News
Tuesday, July 01, 2014
OGCLogoBY HANNAH WALLACE | OB BLOGGER

Demand for organic food continues to soar: Last year, sales of organic food rose to $32.3 billion — up 10% from 2012. In Oregon, organic produce wholesaler Organically Grown Co. has been championing organic growing methods for four decades.


Read more...

South Waterfront's revenge

News
Thursday, July 24, 2014
MoodyAveBY LINDA BAKER | OB EDITOR

Remember the naysayers?  Those who called the South Waterfront aerial tram a boondoggle?  Those who rejoiced at the massive sell off of luxury condos at the John Ross and Atwater Place?


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS