Eco Wave Power signs Israel’s first ever PPA for wave energy

Eco Wave Power has entered into an official power purchase agreement (PPA) with the Israeli National Electric Company (IEC) for the newly installed wave energy project at the Port of Jaffa in Tel Aviv.

The PPA for the ‘EWP-EDF One’ project is based on the official feed-in tariff (FIT) set by IEA back in August 2022, according to Eco Wave Power.

With the PPA in place, a private examiner has successfully approved  the technology’s grid synchronization, in accordance with the accepted grid connection standards, the company informed.

Next, the IEC will perform its own synchronization test and then will officially connect the ‘EWP-EDF One’ wave energy project to Israel’s energy grid.

Once connected, the project will represent the first time in the country’s history that electricity produced by the power of waves will be transmitted to Israel’s national electric grid.

Inna Braverman, Eco Wave Power’s founder and CEO, said: “The official start of grid connection for our ‘EWP-EDF One’ project is a moment that we have been waiting for, as it represents an important milestone for our company and our country.

“Eco Wave Power is committed to making a positive change in the world, and we can’t wait to turn the switch on at the ‘EWP-EDF One’ project at the Port of Jaffa.”

In July 2022, Eco Wave Power started real conditions test runs on the ‘EWP-EDF One’ scheme to examine the operation of the mechanical and hydraulic subsystems of the project. The floaters were lowered into the water for the first time, and the successful testing put Eco Wave Power one step closer to full operation of the power station.

Additionally, Eco Wave Power will soon begin with the installation of its wave energy technology on its first location in the United States, at AltaSea at the Port of Los Angeles, which is believed to be the first-ever onshore wave energy station in the history of the country.

The company also holds concession agreements for commercial installations in Spain, Portugal, Turkey, and other locations, completing the Company’s growing 404.7MW project pipeline.

The ‘EWP-EDF One’ project is executed in collaboration with and co-funding from EDF Renewables IL and the Israeli Energy Ministry.

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