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Wave and Tidal Power Costing More Than Forecast

The evolution of technologies that harness the waves and tides for generating electricity is taking longer than hoped and costing more money than expected, a report showed.

Global installations of wave power plants may reach 21 megawatts by the end of the decade, 72 percent less than originally forecast, according to Bloomberg New Energy Finance. For units that harness tidal streams, capacity may reach 148 megawatts, about 21 percent less than previously estimated.