Eco Wave Power Global AB has signed a Memorandum of Understanding (MoU) with maritime engineering company Lian Tat Company (LTC) to introduce its wave energy technology to Taiwan. The landmark project aims to establish Taiwan's first onshore wave energy power station.
The agreement will see Eco Wave Power and Lian Tat Company enter into negotiations for the creation of a Joint Venture company dedicated to developing wave energy projects in Taiwan. LTC will be responsible for securing permits, land use consents, and necessary licenses and approvals for the installation of the planned wave energy project. Additionally, Lian Tat will fund the joint venture and project during the pilot phase, while overseeing the construction, operation, and maintenance of the project in Taiwan. Eco Wave Power will contribute by conducting research, evaluating project feasibility, providing power generation equipment and expertise, and offering troubleshooting support. The partnership aims to maximize energy extraction and optimize the performance of the project by leveraging Eco Wave Power's wave energy conversion technology, which has been successfully deployed in various locations worldwide.
The initial phase of the project entails the development of a 20MW wave energy power station in Taiwan, commencing with a 100kW pilot and subsequently expanding in stages to reach a total installed capacity of 20MW.
“We are excited to partner with Lian Tat Company to bring wave energy to Taiwan,” said Eco Wave Power’s Founder and CEO Inna Braverman. “As an island with most of its population by the shore, Taiwan has a unique capacity to have wave energy at the forefront of the country’s renewable energy portfolio. We are looking forward to taking this historic first step towards implementing Eco Wave Power’s technology throughout Taiwan.”
Chairman CY Huang of Lian Tat Company also shared his belief in the enormous potential of wave energy as a renewable energy source. “This collaboration is a significant step towards unlocking that potential,” he said. “With Eco Wave Power’s innovative technology, our collaboration will establish a benchmark project that will demonstrate the viability and scalability of wave energy in Taiwan, especially with the country’s 1,566 kilometers of coastline.”
Huang, a respected figure in the maritime industry, has been actively involved in bringing clean energy to Taiwan, leading LTC's transformation into a provider of renewable energy solutions. As the chairman of investment banking firm FCC Partners and president of the Mediterranean and Asian Marine Alliance (MAMA), Huang seeks to connect Taiwanese ocean research with global maritime affairs to advance sustainable solutions.
Apart from generating 20 MW of clean energy, the project is expected to create various economic benefits, including job opportunities in manufacturing, transportation, construction, and engineering sectors.
