Vattenfall Sinks Wave Power Business

GALWAY, IRELAND--February 13, 2015 --Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) The floundering U.K. marine energy sector was struck another blow this week when Swedish power major Vattenfall AB (Stockholm, Sweden) announced that it was exiting the Scottish marine energy sector.

The company announced it is appointing a liquidator for its Aegir Wave Power (AWP) joint venture company, which it established in 2009 with long-time marine energy company Pelamis Wave Power (Edinburgh, Scotland).