Eco Wave Power Global AB (“Eco Wave Power”), a leading wave energy technology company, today announced a significant milestone with the signing of an agreement for the sale of its first wave energy generation unit with I-Ke International Ocean Energy Co. (“I-Ke”), a subsidiary of Lian Tat Company.
This agreement marks Eco Wave Power’s entry into the Asian market and will see the deployment of a 100 kilowatt (KW) wave energy power station on the Taiwanese coastline. This initial project will serve as a pilot for a larger-scale deployment, with plans to expand the project to 20 megawatts (MW) and ultimately 400 MW of commercial capacity.
Under the terms of the agreement, I-Ke will fully finance the 100 KW pilot project, purchasing a turnkey conversion unit from Eco Wave Power. This unit includes all necessary hydraulic and electric conversion components, along with the company’s advanced smart control and automation system.
I-Ke has identified a suitable site on Taiwan’s east coast for the initial 100 KW wave energy station, with 83 additional potential locations identified for future expansion.
“Taiwan, with its extensive coastline, presents significant potential for the development of marine energy,” said CY Huang, Chairman of Lian Tat. “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.”
This strategic partnership with I-Ke marks a crucial step in Eco Wave Power’s global expansion strategy. The company is confident that this project will serve as a successful demonstration of its innovative wave energy technology and pave the way for further deployments in the Asian market and beyond.
