The viability of harnessing waves as a lucrative renewable energy source received a boost last week following the announcement that the worlds first commercial wave energy project will begin delivering wave-generated energy to the north of Portugal later this month.The first stage of the European Union-funded program, the result of two decades of research at Lisbons Superior Technical Institute, will bring the first 2.25 megawatts ashore at Aguçadoura, in northern Portugal, and will power 1,500 homes through the national state run electricity grid system.