Guam – The Ocean Thermal Energy Corporation has been awarded a $50-thousand dollar federal grant to conduct a feasibility study to determine the technical and economical practicality of building and operating an Ocean Thermal Energy Conversion (OTC) plant on Guam.
The grant is coming from the U.S. Department of Agriculture’s Rural Development office.
In a release annoucing the grant award, Guam Congresswoman madeleine Bordallo states:
“The Federal grant received today is a step toward promoting renewable energy on Guam. It is important that Guam continue to invest in sustainable energy technologies in our community. The feasibility study that is awarded in this grant will explore Ocean Thermal Energy Conversion (OTEC) as a renewable energy alternative for Guam. OTEC has great potential for our island and it is important that it is explored as an economic alternative to fossil fuels.”