Seabased makes Sri Lanka wave energy deal
Seabased, a Swedish wave energy company, has formed partnership with Infocom Connect to provide renewable energy for commercial projects in Sri Lanka.
The first project will power a fish farm with a 1-to-5MW installation, according to Seabased.
The agreement goes in line with Sri Lanka’s ambition to gradually increase its renewable energy capacity to become 100% powered by sustainable energy by the year 2050.
Infocom Connect, a telecommunications company based in the United Arab Emirates, focuses on introducing partners to capital projects, providing support through the financing, planning and implementation phases and ongoing support as required.
According to Seabased, its new partner has a deep network in parts of the world that are ideal candidates for wave energy because of the wave climate and limited options for renewables.
Øivind Magnussen, CEO at Seabased, said: “The wave climate and eagerness to increase the dependence on renewables make Sri Lanka an ideal early customer for Seabased.
“Partnering with Infocom Connect was an important step. Much of the early work of introducing the world to wave energy, such as site selection and permitting, requires local knowledge and support.
“Infocom has those relationships, and a strong reputation in the communities it serves. Our partnership will benefit our two companies, our investors, and the countries and communities where we work together.”
Infocom Connect Managing Director John Crawford noted that many countries where they work are eager to switch from fossil fuels to renewables but scarce land or high prices of some renewables make that difficult.
Crawford said: “Wave energy is ideal for many of these markets and Seabased is a leader in this emerging industry. They have an impressive technology and track record. I look forward to many more joint projects in the future.”