Mikael Lilius, CEO of Fortum.

Finnish utility Fortum said in a statement Tuesday it and Sweden's Seabased Industry had filed a state aid application with the Swedish Energy Agency for a 10-megawatt wave power station.

Fortum added the nascent project represented an investment of about €25 million.

"Wave power is still under development, but we find it so interesting that we are now investigating the possibilities of developing a full-scale wave power site," said in the statement Göran Hult, the head of Fortum's hydropower unit.

Fortum and the University of Uppsala have collaborated on a wave power test site off Lysekil in Sweden.

STT
Lehtikuva – Vesa Moilanen