Eco Wave Power Global, a leading company in wave energy technology, has signed an agreement with I-Ke International Ocean Energy (I-Ke), a subsidiary of maritime engineering leader Lian Tat Company, to introduce wave energy generation in Taiwan. This collaboration will see the sale of Eco Wave Power’s first 100KW wave energy unit to I-Ke, which will fully finance and manage the project.
The agreement, following a memorandum of understanding signed in June 2023, will allow Eco Wave Power’s technology to be adapted for Taiwan’s east coast, with 83 additional potential sites identified. I-Ke will also handle local production of components and oversee the permitting process. The pilot project is set to expand to a total commercial capacity of 400 MW, beginning with a 20 MW wave energy station.
This initiative marks Eco Wave Power’s first step into the Asian market, positioning Taiwan as a hub for wave energy expansion across the Asia-Pacific. I-Ke Chairman CY Huang highlighted the significant potential for marine energy development in Taiwan, given its 1,566-kilometer coastline. He expressed optimism that the collaboration would diversify Taiwan’s renewable energy portfolio.
Inna Braverman, CEO of Eco Wave Power, expressed excitement over the partnership, emphasizing Taiwan’s suitability for wave energy deployment and the potential to create new jobs in the wave energy sector. The project aligns with Taiwan’s renewable energy goals and its government’s increasing support for marine energy development.