Eco Wave Power Global has initiated its first megawatt-scale wave energy project in Porto, Portugal. The project is part of a 20MW concession agreement and will include an underwater wave energy museum.
The company's energy conversion equipment will be installed in a room beneath the breakwater at the APDL (Administração dos Portos do Douro, Leixões e Viana do Castelo) site, which will later be opened to the public as a museum and education center.
Eco Wave Power's team has met with local subcontractors and manufacturers to select the preferred entities for the project's execution.
“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,” said Eco Wave Power founder and chief executive Inna Braverman. “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 commercialization of our wave energy technology globally.”
The first megawatt project aligns with a 20MW Concession Agreement with APDL and is expected to expand gradually to the full 20MW capacity.
In March 2024, Eco Wave Power received the final approval required for the construction of its first commercial-size project in Porto from APDL Port Authority and issued a performance bond to APDL, demonstrating its commitment to the project's completion within a two-year period.
This project supports Portugal's renewable energy plan, which aims to generate 85% of its annual electricity from renewable sources by 2030, up from 61% in 2023, one of the highest ratios in Europe.
