Last September, with great fanfare, Ocean Power Technologies began construction on America's first wave-powered utility. Holding the first - and only - wave energy permit from the Federal Energy Regulatory Commission, OPT had planned to deploy a test buoy off the coast of Reedsport by spring. But a year after the permit, regulatory and technical difficulties have all but halted the project. Federal regulators notified the company earlier this year it had violated the license after failing to file a variety of plans and assessments.