Eco Wave Power is an innovative Swedish wave energy company, founded in Tel Aviv, Israel, in 2011, that has developed a patented, smart and cost-efficient technology for turning ocean and sea waves into green energy. Eco Wave Power is offering a unique technology being the only company in the world with a grid connected wave energy array, selling electricity to the grid under long-term fixed-priced power purchase agreements.
Based on its proprietary technology, Eco Wave Power’s business concept is to develop, sell and deliver power plants as well as to sell self-produced clean energy. Eco Wave Power now aims to capitalize on the company’s project pipeline exceeding 160 MW and expects to show substantial growth the upcoming years.
The technology has significant advantages
- It is easy to build and fully modular.
- Cost-efficient - total capex per MW range from EUR 1.0-1.6 million, depending on existing breakwater structure.
- LCOE low at EUR 42/MWh (SEK 0,44/kWh).
- Only land-based wave power technology, with low installation, maintenance and transmission cost. Several patents, i.a.a storm production mechanism.
- Fully insurable for i.a. damage protection, provided by global reputable insurance companies.
- No environmental impact – due to the connection of the system to existent man-made structures.
- Substantial cost and risk minimization in the project phase compared to wind power plants as there is available reliable satellite data, received from Met Ocean Solutions, regarding wave height and wave width in the geographical locations where the power plants are being considered which provides a precise electricity production calculation.
Eco Wave Power has received much international recognition for its technological and environmental advantages. The project pipeline is building up quickly and is currently approx. 160 MW, with relatively high power prices achieved due toits unique position. The company is now ready for commercial take-off starting with the installation of a 10 MW power plant in the UK as well as the expansion of the power plant in Gibraltar to 5 MW (to provide 15% of all Gibraltar's electricity needs).
Please visit Dagens Industri and DI TV Hållbarhet to see the interviews with Eco Wave Powers founder Inna Braverman:
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