I don't think so. I recall hearing about a similiar idea invented by Tesla. Lovelock of Gaia fame is advocating a wave driven system to pump cold water from the ocean depths to the surface to cool the surface water down and prevent coral reefs from dying (another advantage of this would be to weaken hurricanes).

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Tuckers! Automotive Oddities! Building my hot rod with the help of the intarwebs Those who would delay scientific progress for a little temporary prosperity shall have neither. MachineCast Save the planet, by leaving it! "To be second in space is to be second in everything," LBJ.