The company planning a wave energy project off the south 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 World reports 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.
In February, the company reported it had lost track of a buoy anchor about 2.5 miles offshore from Reedsport.