The Danish wave energy company Wave Dragon is close to obtain huge orders which will result in the company becoming the world leader within wave energy, writes Børsen Business Daily.

According to the company’s Chairman of the Board Hans Christian Sørensen British and Portuguese investors are prepared to invest approximately EUR 150 million in Wave Dragon’s wave energy conversion device over the next two-three years. If this comes true it will be a major breakthrough for wave energy as one of the green energy form of the future, says an expert.

Firstly, it concerns the largest full scale plant at sea so far that is seven megawatt at a price of EUR 10 million, which Wave Dragon is planning to launch off the coast of Wales in August 2009.

Secondly, according to the chairman, Portuguese investors are prepared to place approximately EUR 110 million in ten new plants which are to be manufactured and established in Portugal.

Wave Dragon has tested a mini plant in the Danish Limfjorden for 20,000 hours since 2003 and says the chairman upscaling the plant will create no technical difficulties.

This is all taking place despite the fact that most recently in The Economist wave energy has been criticized for being a drawing board technology, which in the real world cannot withstand the enormous power of the waves.