Seabased scores 40MW Caribbean wave energy deal

Swedish wave energy company Seabased has signed an agreement with Bermuda General Agency (BGA) to deliver two 20MW wave energy parks in the Caribbean.

Seabased's wave energy technology (Photo: Seabased)

Feasibility studies of the Caribbean project will begin on several islands this summer, while the phase one is expected to be operational by the fall of 2019, Seabased informed.

The phase one of the first 20MW will consist of a 5MW pilot in the Bahamas, and according to the agreement, Seabased will design, manufacture, install and manage the maintenance of the wave parks.

Wendall Brown, CEO and Chairman of BGA, said: “Recognizing the vast energy resource represented in the waves that roll onto our beaches every day, I have researched every opportunity to harness this energy. Seabased’s Ocean Wave Energy Solution is not only the most efficient in the market, but it is also the most sustainable and economical.”

Øivind Magnussen, Seabased’s CEO, said: “We believe that Seabased’s technology, which has been developed over two decades, with 100+ unique patents, is a perfect option for islands like those in the Caribbean with desirable wave climates and a high need for energy. Yet it takes people with vision to help really bring wave energy into its proper place among renewables – BGA and its supporter, the Bank of Butterfield & Son, have that vision.”

The permitting process has already begun in several Caribbean jurisdictions, according to Seabased.

More than 40 million people live in the Caribbean region, which comprises dozens of islands stretching out over an area of 1.063 million square miles.

Each year that population nearly doubles as tourists descend on the area, known for its natural beauty and history. Historically, the Caribbean has relied on fossil fuels such as diesel, but the area is becoming increasingly committed to finding renewable solutions to its energy needs.

Founded in 1922, BGA Wholesale Distributor supplies a full range of wholesale service to supermarkets, drug stores, hotels and guesthouses in Bermuda.