Eco Wave Power has signed an agreement for the sale of the first wave energy generation unit with I-Ke International Ocean Energy, a subsidiary of maritime engineering company Lian Tat, for the pilot wave energy plant in Taiwan.
According to the terms of the agreement, I-Ke will be providing the full financing for the 100 kW pilot project, by buying a turnkey conversion unit from Eco Wave Power. This conversion unit for the 100 kW wave energy power station includes all the hydraulic and electric conversion parts, coupled with the smart control and automation system.
I-Ke has identified the location for the first pilot station on the east coast of Taiwan, along with an additional 83 potentially suitable sites, and will be responsible for obtaining permits, land use consents and any licensing and approvals necessary to complete the installation of the planned wave energy projects.
Moreover, I-Ke will locally produce the floaters, hydraulic cylinders and all other components of the technology, which are located on the seaside of the marine structure.
According to a press statement made by I-Ke, the first stage of the project will be the development of a 20 MW wave energy power station in Taiwan, beginning with a 100 kW pilot and expanding in stages to a total targeted installed commercial capacity of 400 MW.
“Taiwan is an island country with a coastline of 1,566 kilometers, with high potential for the installation of marine energy. The construction of Eco Wave Power’s project is relatively easy, and I believe that it will be a significant stepping stone for the development of green electricity in Taiwan.
“I also think that this will allow Taiwan to break away from existing renewable energy restrictions and develop in the direction of diversified renewable energy. As a result, we have already completed the site selection process and once the 100 kW demonstration site is built, with positive results, our target is to expand it to 20 MW, and we will continue to push up to more than 400 MW of wave energy installed capacity,” said CY Huang, the Chairman of Lian Tat.
“I believe that this new collaboration will not only be a win-win collaboration for both parties but will also serve as a pioneering step towards the implementation and adaptation of wave energy all over Asia, as this will be the first onshore wave energy array in the region,” added Inna Braverman, CEO and Founder of Eco Wave Power.