Nice article at Kuro5hin about the potential for profitable power from ocean waves. Harvesting hydro electric power from waves has been a tricky undertaking, but apparently progress is happening. Lots of details and references about the technology.
20 May 2008 @ 14:56 by Bassem Morris @22.214.171.124 : New wheel invention for wave power
A new invention of a wheel capable of extracting power from both of wind and wave forces with good operational output.
Have a look at :