Eco Wave Power Global has officially kicked off of the company’s first megawatt-scale wave energy project, to be located in the city of Porto, in Portugal.
The project is built as part of a 20MW concession agreement and will feature a underwater wave energy museum
In a room underneath the breakwater at the APDL (Administração dos Portos do Douro, Leixões e Viana do Castelo) site, Eco Wave Power’s energy conversion equipment will be installed, and later opened to the public, as a museum and education centre.
During the visit, Eco Wave Power’s team met with local subcontractors and manufacturers, to choose the preferred entities that will take part in the execution of this innovative project.
Eco Wave Power founder and chief executive Inna Braverman said: “We believe that this will be the first wave energy project in the world to show significant energy production from the power of the waves.
“I truly believe that this revolutionary project will position Eco Wave Power as a leading wave energy developer and serve as a significant milestone towards the commercialisation of our wave energy technology globally.
“I would like to thank the Municipality of Porto and APDL, for being true wave energy pioneers, by enabling and supporting the development of an innovative, environmentally friendly energy generation technology, which will serve to lower the port’s carbon footprint, while creating new workplaces and an innovative industry in Portugal.”
The first megawatt project is being executed in line with a 20MW Concession Agreement entered into with APDL and is planned to be followed by a gradual expansion to the whole 20MW of installed capacity.
In March 2024, the company received the final approval necessary for the commencement of the construction works of its first commercial-size project in Porto (TURH license) from APDL Port Authority, and issued a performance bond to APDL, meant to solidify the company’s commitment for the construction of the first commercial wave energy scheme within a two-year period.
Eco Wave Power’s project is well in line with the renewable energy plan of the government of Portugal, as in July, 2024, Lisbon announced that it aims to generate 85% of its annual electricity production from renewable sources by 2030, compared to 61% in 2023, one of the highest ratios in Europe.