Eco Wave Power Global AB, a publicly traded onshore wave energy technology company, has announced the official kickoff of its first megawatt-scale wave energy project in Porto, Portugal.
Inna Braverman, Founder and CEO of Eco Wave Power, along with the company’s engineering team, recently visited the project site for a meeting with Administração dos Portos do Douro, Leixões e Viana do Castelo, S.A. (APDL) and other key stakeholders.
On-Site Preparations and Future Museum
Following the meeting, the Eco Wave Power team conducted a site visit to assess the breakwater and the “Gallery,” an area beneath the breakwater where the wave energy conversion equipment will be installed.
This space will eventually be transformed into a unique wave energy museum and educational center, open to the public.
Collaboration with Local Partners
During the visit, the Eco Wave Power team also met with local subcontractors and manufacturers to select the preferred entities that will participate in the project’s execution.
CEO’s Vision and Gratitude
Inna Braverman, CEO of Eco Wave Power, shared her optimism for the project, stating, “We believe that this will be the first wave energy project in the world to show significant energy production from the power of the waves. I truly believe that this revolutionary project will position Eco Wave Power as a leading wave energy developer and serve as a significant milestone towards the commercialisation of our wave energy technology globally. I would like to thank the Municipality of Porto and APDL for being true wave energy pioneers, by enabling and supporting the development of an innovative, environmentally friendly energy generation technology, which will serve to lower the port’s carbon footprint, while creating new workplaces and an innovative industry in Portugal.”
Project Alignment with Portugal’s Renewable Energy Goals
This initial megawatt project aligns with a 20 MW Concession Agreement with APDL, with plans for a gradual expansion to the full 20 MW capacity.
Key Approvals and Construction Timeline
In March 2024, Eco Wave Power secured the final approval needed to begin construction in Porto (TURH license) from APDL Port Authority.
The company also issued a performance bond to APDL, solidifying its commitment to complete the first commercial wave energy project within two years.
Supporting Portugal’s Renewable Energy Plan
This project significantly supports the Portuguese government’s ambitious renewable energy plan. In July 2024, Portugal announced its goal to generate 85% of its annual electricity production from renewable sources by 2030, a substantial increase from the 61% achieved in 2023.
This commitment positions Portugal as a frontrunner in renewable energy adoption within Europe.
Legal and Regulatory Support
Eco Wave Power has received valuable legal and regulatory guidance from Joana Brandão and her team at the leading Portuguese law firm PLMJ.
With their extensive experience in supporting renewable energy projects in Portugal, Joana and her team have been instrumental in navigating the regulatory framework since 2020.