WERPO to make waves in Sri Lanka
WERPO, an Israeli wave energy developer, has announced plans for the construction of a 10 MW wave power plant in Sri Lanka.
WERPO has received approval for this renewable energy project from the Ceylon Electricity Board (CEB), the largest provider of electricity in Sri Lanka, WERPO’s press release reads.
The initial plant would have the capacity of 10 MW, with the 10 additional plants to follow, according to WERPO.
As a result of this approval, WERPO has created a local subsidiary in Sri Lanka.
Shmuel Ovadia, director at WERPO and inventor of its proprietary sea wave energy technology, said: “WERPO’s local subsidiary will sell power to CEB at 10 cents per unit. At this rate the company would recover its investment within 4 years.”
In addition to that, the company is in co-operation talks with an unnamed Chinese electrical supplier for the construction of ocean energy project, as well as being in negotiations with Grenada and the Caribbean region for the deployment of its wave energy technology.
WERPO has developed wave energy technology based on the utilization of sea waves’ rise and fall to yield hydraulic pressure that produces electricity, exploiting the potential of wave speed, height, depth and currents beneath the surface of the water.