Eco Wave Power Global has initiated its first megawatt-scale wave energy project in Porto, Portugal.
Inna Braverman, Founder and CEO of Eco Wave Power, along with the company’ engineering team, conducted a site visit and held a meeting with APDL and other stakeholders to mark the commencement of this groundbreaking project.
The site visit included an inspection of the breakwater and “The Gallery,” a room beneath the breakwater where Eco Wave Power’s energy conversion equipment will be installed. This area will later be transformed into a wave energy museum and education center, open to the public.
During their visit, Eco Wave Power’s team also met with local subcontractors and manufacturers to select partners for the project’s execution.
“This revolutionary project will position Eco Wave Power as a leading wave energy developer and serve as a significant milestone towards the commercialization of our wave energy technology globally,” Inna Braverman said.
The project aligns with a 20MW Concession Agreement with APDL and will expand gradually to the full 20MW capacity. In March 2024, Eco Wave Power received the final approval necessary for commencing construction (TURH license) from APDL Port Authority and issued a performance bond to APDL, solidifying the company’s commitment to completing the first commercial wave energy project within two years.
This initiative supports Portugal’s renewable energy plan, which aims to generate 85% of its annual electricity from renewable sources by 2030, up from 61% in 2023. Eco Wave Power is advised by Joana Brandao and her team from the Portuguese law firm PLMJ, who have extensive experience in supporting renewable energy projects across Portugal.
Eco Wave Power operates a grid-connected wave energy project in Israel, co-invested by EDF Renewables IL and the Israeli Energy Ministry, marking the first grid-connected wave energy system in Israel’s history.
The company is also preparing to install projects in the Port of Los Angeles and in Portugal, holding a total project pipeline of 404.7MW.
The company has received funding from the European Union Regional Development Fund, Innovate UK, and the European Commission’s Horizon 2020 framework program and was honored with the “Global Climate Action Award” from the United Nations.