The Israeli government has set a feed-in tariff (FiT) for wave energy.
With the FIT in place, the Israeli Electric Company (IEC) commenced operations to officially connect Eco Wave Power’s EWP-EDF One wave energy project, at the Port of Jaffa, to Israel’s national electric grid.
The FIT incorporates a base production price and an added premium for mitigating pollution, with further details published by the Israeli Electric Authority.
The EWP-EDF One Project is executed in collaboration with and co-funding from EDF Renewables IL and the Israeli Energy Ministry.
“The official start of grid connection for our EWP-EDF One Project is a moment that we have been waiting for, as it represents an important milestone for our company and our country,” said Inna Braverman, Eco Wave Power’s Founder and CEO.
In July 2022, Eco Wave Power announced that it commenced real conditions test runs on the EWP-EDF One Project to examine the operation of the mechanical and hydraulic subsystems of the project.
The floaters were lowered into the water for the first time, and the successful testing puts Eco Wave Power one step closer to full operation of the power station.
Additionally, Eco Wave Power will soon commence installation on its first US location of its wave energy technology at AltaSea at the Port of Los Angeles.
The company holds concession agreements for commercial installations in Spain, Portugal, and other locations, completing its 328MW project pipeline.