Floaters rise and fall with the waves and are part of the power generation system. Credit: Eco Wave Power.
Eco Wave Power Global AB announced it has entered into a power purchase agreement (PPA) with the Israeli National Electric Company (IEC), based on the official feed-in tariff that was set for its newly-installed wave energy project (EWP-EDF One Project) at the Port of Jaffa in Tel Aviv by Israel’s Electric Authority.
The agreement was made through the company’s EWP-EDF One subsidiary.
With the PPA in place, a private examiner has approved the technology’s grid synchronization, in accordance with accepted grid connection standards. Next, IEC will perform its own synchronization test and then officially connect the EWP-EDF One wave energy project to Israel’s energy grid. This will represent the first time in the country’s history that electricity produced by the power of waves will be transmitted to Israel’s national electric grid, according to a release.
The EWP-EDF One Project is executed in collaboration with and co-funding from EDF Renewables IL and the Israeli Energy Ministry, which recognized Eco Wave Power’s technology as “Pioneering Technology.”
“The official start of grid connection for our EWP-EDF One Project … represents an important milestone for our company and our country,” said Inna Braverman, Eco Wave Power’s founder and chief executive officer. “Eco Wave Power is committed to making a positive change in the world, and we can’t wait to turn the switch on at the EWP-EDF One Project at the Port of Jaffa.”
In July 2022, Eco Wave Power announced it had commenced real conditions test runs on the EWP-EDF One Project to examine operation of the mechanical and hydraulic subsystems.
Additionally, Eco Wave Power will soon commence installation of its wave energy technology on its first U.S. location at AltaSea at the Port of Los Angeles. The company also holds concession agreements for commercial installations in Spain, Portugal, Turkey and other locations, completing the company’s 404.7 MW project pipeline.
Eco Wave Power’s mission is to assist in the fight against climate change by enabling commercial power production from the ocean and sea waves. Eco Wave Power received funding from the European Union Regional Development Fund, Innovate UK and the European Commission’s Horizon 2020 framework program.
