Abstract: A power generation system that converts energy associated with ocean waves into electrical energy includes a plurality of floats positioned on a body of water. Each float includes an actuator arm that, when reciprocated, drives an oil piston positioned within an oil chamber. Each piston pumps oil into a supply header that fills a load cylinder with pressurized oil. Each load cylinder includes a weighted member superimposed on a plunger that is lifted by the pressurized oil; automated control valves release the oil causing the weighted member to fall rapidly. A geared rack at a lower end of the plunger engages a pinion that drives a generator. Accordingly, the rapid descent of the heavy member drives the pinion and thus the generator thereby producing electrical power.