Woodside buys 5 pct of US wave power firm

  • 03/01/2001

Woodside Petroleum Ltd said on Wednesday it has acquired five percent of wave power technology company US-based Ocean Power Technologies Inc in its maiden investment in renewable energy.A spokesman said Woodside paid US$3.62 million, made up mainly of $3 each for one million shares in Ocean Power, which develops systems to harness ocean wave power to generate electricity.