Finnish wave developer Seabased has signed an agreement with Bermuda General Agency (BGA) for the development of two 20MW projects in the Caribbean.
Feasibility studies will start on several islands this summer and phase one is expected to be operational by winter 2019.
Stage one of the first 20MW is a 5MW pilot in the Bahamas, the company said.
According to the agreement, Seabased will design, manufacture, install and manage the maintenance of the wave parks.
The permitting process is already underway in several Caribbean jurisdictions, the company said.
“We believe our technology is a perfect option for islands like those in the Caribbean with desirable wave climates and a high need for energy,” said Seabased chief executive Oivind Magnussen.
“Yet it takes people with vision to help really bring wave energy into its proper place among renewables – BGA and its supporter, the Bank of Butterfield & Son, have that vision.”
BGA chief executive Wendall Brown said: “We have long wrestled with limited energy supply and very high prices throughout the Caribbean.”
Seabased is currently developing a 100MW scheme in Ghana and has signed agreements to build wave parks in the Canary Islands and Sri Lanka.
Image: Seabased
Seabased rides Caribbean wave
By EBS