An innovative technology for generation of clean electricity from ocean and sea waves
Israel, Portugal, United States
Applied Financing Solutions
In operation since/from: 2024
Most wave energy companies chose to install their technology in the offshore zone, which was expensive, not reliable, hard to insure and hard to connect to the grid, due to the great distance from the shoreline. As opposed to that, Eco Wave Power (EWP) developed an innovative onshore/nearshore technology that connects floaters to existing marine infrastructures, resulting in the
1. Cost-Efficient – Installation and maintenance costs are significantly lower than offshore technologies.
2. Reliable - Eco Wave Power’s conversion unit – located on land - is not subject to an aggressive marine environment. Furthermore, EWP utilizes a patented storm protection mechanism.
3. Fully insurable - The reduced cost and high reliability associated with Eco Wave Power’s technology allows EWP to secure insurance for its power stations. EWP’s installation in Israel is insured by notable insurance companies.
4. Environmentally friendly - Eco Wave Power’s technology does not connect to the seabed, thus not harming marine life.
5. Eco Wave Power has over 6 years of grid-connected operating experience proving that onshore wave energy can safely connect to the national electrical grid.
Success Factor | Hero Moment
In August 2023, Eco Wave Power connected its EWP-EDF One project, in Jaffa Port, Israel to the National Electrical grid of Israel. It marked the first time in the history of Israel, that wave energy was officially connected to the national electrical grid.
Eco Wave Power, Israel
Other Involved Stakeholders
EDF Renewables IL, Israeli Energy Ministry, Siemens; AltaSea, Shell, Port of Los Angeles; APDL