Eco Wave Power Inks Agreement to Bring Wave Energy to Taiwan

Onshore wave energy technology company Eco Wave Power Global has signed a Memorandum of Understanding (MoU), with maritime engineering company Lian Tat Company (LTC), to bring Eco Wave Power’s wave energy technology to Taiwan.

According to the terms of the agreement, Eco Wave Power and Lian Tat Company will enter into negotiations regarding the establishment of a Joint Venture company to develop wave energy projects in Taiwan. Once installed, the landmark project will be Taiwan’s first onshore wave energy power station.

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 in Taiwan, and will be responsible for funding the joint venture and the project during the pilot phase, 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. The partnership will leverage Eco Wave Power’s wave energy conversion technology, which has been deployed in several locations worldwide, to maximize energy extraction and optimize the project’s performance.

The first stage of the project will be the development of a 20 MW wave energy power station in Taiwan, which would begin with a 100 kW pilot and then expand in stages to a total installed capacity of 20 MW.

“We are excited to partner with Lian Tat Company to bring wave energy to Taiwan,” said Eco Wave Power’s Founder and CEO Inna Braverman. “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.”

In addition to producing 20 MW of clean energy, the project is expected to create economic benefits, including job opportunities in manufacturing, transportation, construction, and engineering.

Eco Wave Power is currently finalising the construction of its grid-connected project in Israel, with co-investment from the Israeli Energy Ministry, which recognised the Eco Wave Power technology as “Pioneering Technology” and will soon commence the installation of its newest pilot in AltaSea’s premises in the Port of Los Angeles. The Company also holds concession agreements for commercial installations in Europe and has a total projects pipeline of 404.7MW.