Eco Wave Power inks deal for wave energy project in Taiwan
Swedish-Israeli company Eco Wave Power has signed a Memorandum of Understanding (MoU) with maritime engineering company Lian Tat Company (LTC) to bring its wave energy technology to Taiwan.
The two parties are planning to enter into negotiations for the establishment of a joint venture (JV) company to develop wave energy projects in Taiwan.
The first stage will be the development of a 20 MW wave energy power station, set to be the first such in Taiwan once installed, which would begin with a 100 kW pilot and then expand in stages to the total installed capacity.
The project is expected to create job opportunities in manufacturing, transportation, construction, and engineering.
“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.”
LTC will be responsible for obtaining permits, land use consents and licensing and approvals necessary to complete the installation of the planned wave energy project, as well as for funding the JV and the project during the pilot phase, in addition to managing the construction, operation, and maintenance.
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.
“I believe that wave energy has enormous potential as a renewable energy source, and this collaboration is a significant step towards unlocking that potential,” said Lian Tat Company Chairman CY Huang.
“With Eco Wave Power’s innovative technology, our collaboration will establish a benchmark project that will demonstrate the viability and scalability of wave energy in Taiwan, especially with the country’s 1,566 kilometers of coastline.”
Speaking about recent company-related news, Eco Wave Power last month entered into an agreement with Rogan Associates for the design of its wave energy technology in the Port of Heraklion, on the Greek island of Crete.
Earlier this year, the Swedish-Israeli company unveiled its wave energy technology at the Port of Los Angeles as the first-ever onshore wave energy station showcased in the U.S.
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