The Swedish Energy Agency is to invest €8.2m to allow Stockholm wave developer Corpower to demonstrate its technology at full scale.
The European Marine Energy Centre's Billia Croo site off Orkney and Aguçadoura in northern Portugal are the leading candidates to host the demonstration project.
The company will focus on designing its first full-scale device ahead of a final site decision by early 2019.
“Marine energy has the potential to contribute to Sweden's and Europe's climate and environmental policy goals, but also drive economic growth and create new jobs in Sweden, making this a truly exciting investment,” said Swedish Energy Agency sustainable electricity head Susanne Karlsson.
Corpower aims to follow the full-scale machine with a demonstration array, during which the product will undergo tests and certification.
Image: Wave device (Corpower)