The company planning a wave-energy project off the southern Oregon Coast says it may not be finished this year.
Ocean Power Technologies says regulations, business and financial factors may delay installation of its Mark 3 PowerBuoy off Reedsport beyond 2013.
The Federal Energy Regulatory Commission issued a 35-year license for the wave energy park in August. If completed, the park will be the first commercial wave-energy operation in the nation. Clackamas-based Oregon Iron Works built most of a buoy and did most of the construction work at its fabrication plant on the Columbia riverfront in Vancouver.
In February, the company reported it had lost track of a buoy anchor about 2.5 miles offshore from Reedsport.
