Eco Wave Power will officially launch the company’s first megawatt (MW)-scale wave energy project, to be located in Porto, Portugal. The company’s energy conversion equipment will be installed, and later opened to the public as a first-of-its-kind wave energy museum and education center.
Founded in 2011, Eco Wave Power converts the energy of onshore ocean waves into electricity. In January of 2024 the company’s technology, connected to the grid at the Port of Jaffa in Israel, was able to produce a stable average energy output of around 10 kilowatts (kW) per hour, which is enough to power one large U.S. home, or two medium ones.
Eco Wave Power is working with Portugal’s Administração dos Portos do Douro, Leixões e Viana do Castelo (ADPL) on the installation. The first MW project is being executed in line with a 20MW Concession Agreement entered into with APDL and is planned to be followed by a gradual expansion to the whole 20MW of installed capacity.
Inna Braverman, Founder and Chief Executive Officer of Eco Wave Power said, “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. 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.”
In July 2024, Portugal announced that it aims to generate 85% of its annual electricity production from renewable sources by 2030, compared to 61% in 2023, one of the highest ratios in Europe.
