RME Cape Verde bags over $900K from SEFA
- Business & Finance
Resolute Marine Energy (RME) Cape Verde, a subsidiary of the US-based wave energy player RME, has received $930,000 to develop a wave-powered desalination system.
The fuding granted by the African Development Bank-hosted (AFDB) Sustainable Energy Fund for Africa (SEFA) will be used for setting up the wave-driven desalination system Wave2O in Praia Grande, Cape Verde.
The system will operate completely ‘off-grid’ and supply more than 48,000 people with fresh water at a competitive cost, AFDB’s press release reads.
The system is expected to have a capacity of 4,000 m3/day of water and will eliminate 5,400 metric tons of CO2 per year.
Bill Staby, RME’s CEO, said: “We commend the African Development Bank and SEFA for recognizing that our technology can significantly improve access to water and electricity for coastal populations and commercial/agricultural operations in developing countries and island nations.”
Wave2O has the potential to not only increase potable water supplies but also to shift energy consumption to other sectors, enabling better management of existing electrical capacity and better control over energy pricing.
The programme will help the country meet its ambitious goal of replacing fossil-based electricity generation with 100% renewable energy by 2020, according to AFDB.