Again, this takes me back to my old home town and its massive coast. Once renowned for its beautiful beaches, Chennai is now known for the stink from the shit that the city dumps in the sea. Those who run the place have never wondered about recycling their sewerage and using it to generate power. If they ever get their heads out of the filthy smelling air over there, they might want to look at this: http://www.pelamiswave.com/
And then there is Ocean Power Technologies whom I have written about before: http://www.oceanpowertechnologies.com/ With something like $ 2 billion worth of US Exim Bank funds available for business in India, this could be a fantastic project for some entrepreneur to start.
Sadly, I am pessimistic about this ever happening.