Eco Wave Power has signed a memorandum of understanding with maritime engineering outfit Lian Tat Company (LTC) to develop wave energy in Taiwan starting with a 20MW project.
According to the terms of the agreement, Eco Wave Power and LTC will enter into negotiations regarding the establishment of a joint venture to develop projects in Taiwan.
The partnership will leverage Eco Wave Power’s wave energy conversion technology, which has been deployed in several locations worldwide.
The first stage of the project will be the development of a 20MW wave energy power station in Taiwan, which would begin with a 100kW pilot and then expand in stages to a total installed capacity of 20MW.
LTC will be responsible for obtaining permits, land use consents and any licensing and approvals necessary to complete the installation of the planned wave energy project.
It will also fund the joint venture and a pilot project, in addition to managing the construction, operation, and maintenance of the project in Taiwan.
Eco Wave Power will assist in the research and evaluation of the project’s feasibility, provide the power generation equipment, and knowledge and perform troubleshooting.
Eco Wave Power’s Founder and chief executive Inna Braverman said: “We are excited to partner with Lian Tat Company to bring wave energy to Taiwan.
“As an island with most of its population by the shore, Taiwan has a unique capacity to have wave energy at the forefront of the country’s renewable energy portfolio.
“We are looking forward to taking this historic first step towards implementing Eco Wave Power’s technology throughout Taiwan.”
LTC chairman CY Huang added: “I believe that wave energy has enormous potential as a renewable energy source, and this collaboration is a significant step towards unlocking that potential.
“With Eco Wave Power’s innovative technology, our collaboration will establish a benchmark project that will demonstrate the viability and scalability of wave energy in Taiwan, especially with the country’s 1566 kilometres of coastline.”
Since being named the company’s chairman in 2016, Huang has led LTC’s transformation into a renewable energy solutions provider. The company works to find renewable energy resources to help Taiwan achieve its clean energy goals and answer the maritime industry’s calls for decarbonisation and lowering pollution levels.