Swedish technology company CorPower Ocean has received a €40 million grant from the EU Innovation Fund to develop a 10-megawatt wave energy farm off the coast of northern Portugal, marking a significant step toward commercialising wave power in Europe.
The project, named VianaWave, will consist of 30 Wave Energy Converters (WECs) arranged in a CorPack array, expected to generate approximately 30 gigawatt-hours of electricity annually—enough to supply around 7,500 households. Operations are targeted to begin between 2028 and 2029.
“This is a pivotal milestone for CorPower Ocean and the wave energy sector as a whole,” said Kevin Rebenius, commercial director at CorPower Ocean. “VianaWave shows that wave energy is ready to scale. With strong support from the Innovation Fund and the Portuguese ecosystem, we are accelerating the transition to a sustainable, resilient energy system while delivering local economic value.”
The project builds on CorPower’s HiWave-5 demonstrator and marks a transition from pilot testing to pre-commercial deployment. It supports Portugal’s National Energy and Climate Plan, which targets 200MW of wave energy capacity by 2030.
According to the EVOLVE study, Portugal has a theoretical wave energy potential of 15 gigawatts, positioning it as a future leader in marine renewables. Approximately 75% of VianaWave’s lifetime investment is expected to be spent domestically, including upgrades to electrical infrastructure in Agucadoura and Póvoa de Varzim, and the expansion of CorPower’s operational hub at the Port of Viana do Castelo.
The project is anticipated to create new jobs, stimulate the local supply chain, and strengthen Portugal’s position in the emerging blue economy.
