The Wave Electricity Renewable Power Ocean (WERPO), a renewable sea wave energy firm has entered into a partnership agreement with the Africa Center for Energy Policy (ACEP) for establishing a tidal power plant.
WERPO signed a JV agreement with ACEP in Ghana to supplement the renewable energy needs of the region.
This partnership is considered as an initial effort towards implementing WERPO’s sea wave energy in Ghana, the region which has a potential to generate huge revenues from the erection and sale of sea wave power plants.
While ACEP will work towards attaining necessary authorizations and liaise with the state authority concerning the project, WERPO will provide its renewable and profitable sea wave energy technology.
Moreover, the setting up of this sea wave project in Ghana is an addition of a new power source to the region suffering from a severe energy crisis.
The venture will assist in promoting the local economy through job creation and by introducing a new renewable energy sector utilizing sea waves.
Through this partnership, both WERPO and ACEP will strive to achieve the goal of utilizing Ghana’s untapped resource of sea waves in the best possible manner by introducing WERPO’s technology.
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Last month, WERPO signed a JV agreement with SEEDSOWERS, announcing that Hugh V Jarvis, president/CEO of SEEDSOWERS, will be WERPO’s local representative in Canada, Florida, Anguilla, Dominica, Grenada, Trinidad, Tobago and Suriname.
In the first stage of the JV, 5 million dollars will be invested into a subsidiary of WERPO and SEEDSOWERS, the investment capital for which will be raised by SEEDSOWERS over a period of 24 months.
In another initiative, WERPO signed an agreement with Beijing Capital Group (BCG) of China to exclusively represent WERPO in China.
According to WERPO, this agreement will provide high potential in promoting WERPO’s sea wave energy systems across China and beyond.
Sabeena Wahid
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