Wello nets 10MW wave energy order for Bali
- Business & Finance
Gapura Energi Utama (GEU), an Indonesian infrastructure construction company, has placed an order to Wello to supply it with a 10MW wave energy park equipped with Penguin devices.
The park will be located next to Nusa Penida Island in Bali and it will be the largest wave energy park globally, according to the Finnish wave energy developer Wello.
The delivery will take place after the permitting process is finalized, which is estimated to occur in the end of 2018.
Wello added it also entered into a representation agreement for the Indonesian market with GEU.
Heikki Paakkinen, CEO and Founder of Wello said: “I am extremely proud that our long-term development work is now rewarded with this order. This is just the beginning, as there is global sales potential for the Wello Penguin wave energy device.
“The cost of energy generated with Wello Penguin is already very competitive compared to offshore wind energy, and in serial production we aim for a further 50% cost reduction.”
Komang Agus Pribadiana, President Manager at GE, added: “Indonesia’s ocean wave energy potential is more than 17GW, but not yet explored at all. Teaming up with Wello is truly a brilliant idea and a strategic maneuver to capture the huge ocean waves utility market. This alliance could ignite the fabrication of a 100% local content hull and other supporting equipment could be produced locally as well.”
The potential market for the Wello Penguin in Indonesia alone is worth over a billion euros, according to Wello. However, the company added its Penguin wave energy solution is viable globally on almost any ocean coast.
The patented Wello Penguin wave energy converter has been developed and tested for almost 10 years.
The device has experienced some of the harshest ocean conditions and waves raising up to 18 meters during ongoing testing at the European Marine Energy Center (EMEC) in Orkney, Scotland.
The Wello Penguin floats on water and captures kinetic energy from the waves, which is then turned into electrical power with zero emissions. The device does not have any moving parts in contact with sea water – requiring minimal service needs, Wello said.