Newport- Finavera Renewables is confirming that a wave energy buoy off the coast of Newport did sink last weekend.

KCBY spoke with Finavera Renewables VP of Business Development Kevin Banister on Wednesday, and he says during the removal process, water entered into the buoy unexpectedly and it sunk about 110 feet to the bottom of the Pacific.

Finavera had completed the testing and from a technical development perspective is pleased with the results.

The buoy doesn't contain any oil and no chains or anchors are attached, so it shouldn't interfer with any sea life.

They don't expect to be able to remove the sunken buoy until spring when better weather conditions return.

Finavera may sound familiar because they're the company hoping to conduct wave energy tests near Bandon, though they say it would not be the same type that went on near Newport.