The board of AIM listed Manx company, Renewable Energy Holdings, say a final version of an independent technical report on the CETO wave power device technology is " favourable".
Its been prepared by PB Power, part of Parsons Brinckerhoff, an independent consultancy firm company specialising in the global power industry.

REH, headquartered in Hope Street, in Douglas, say thet commisioned the report "in order to provide an independent, expert, third party validation of the CETO wave power device technology".

They say that key factors confirmed by the report, which should be available shortly on the firms website ( www.reh-plc.com) are the estimated capital expenditure per MW, which positions CETO close to wind turbines, but with more than twice the operating load factor, and the estimated operating expenditure per Kwh which enables CETO to be economically competitive with fossil fuel-based generation.


Mike Proffitt, former Manx Electricty Authority CEO and now Chief Executive of REH ( pictured centre) says “The findings of the PB Power report give the Board great satisfaction that the development expenses incurred to date in developing the CETO technology have been well invested. PB Power validated not only our technology but also our commercial assumptions. The Board is now fully confident to move forward to the commercialisation of the CETO wave power unit and will be seeking an appropriate partner to assist the Company with this.”

At the same time, REH says it has entered in to a non-binding letter of intent relating to the purchase of the Kobylany Wind Farm site in Poland from a consortium of Polish companies and individuals.
The wind farm, located near the town of Kobylany in southern Poland, is still at the planning stage and is expected, when developed, to represent 30 MW of generating capacity.