Eco Wave Power, a global leader in wave energy technology, has entered the Taiwanese renewable energy market through a new agreement with I-Ke International Ocean Energy Co. (I-Ke), a subsidiary of the renowned maritime engineering company Lian Tat. This marks a major step towards introducing wave energy technology to Taiwan, positioning the island nation as a hub for ocean energy in the Asia Pacific region.
Under the agreement, I-Ke will fully finance a 100KW pilot project by purchasing a turnkey conversion unit from Eco Wave Power. This unit, which includes the company’s hydraulic and electric components as well as a smart control system, will convert the power of ocean waves into renewable energy. I-Ke has already selected a location on Taiwan’s east coast for the initial station and identified an additional 83 potential sites for further expansion.
Eco Wave Power’s pioneering wave energy technology has already been successfully deployed in countries including Gibraltar, Israel, and soon in Los Angeles and Portugal. The company’s collaboration with I-Ke is expected to demonstrate the system’s potential to maximise energy extraction along Taiwan’s coastline.
The initial project will serve as a test bed, with the aim of expanding to a 20MW power station once the 100KW pilot site is operational. Ultimately, both parties plan to scale the project to a total installed capacity of 400MW, significantly bolstering Taiwan’s renewable energy capabilities.
Lian Tat’s chairman, CY Huang, highlighted Taiwan’s suitability for wave energy, stating at a press conference in Taipei: “With over 1,500 kilometres of coastline and ideal wave conditions, Taiwan holds great potential for marine energy. The construction of Eco Wave Power’s technology is relatively straightforward, and this project represents an important milestone for Taiwan’s green electricity transition.”
Huang added that the Taiwanese government’s renewable energy policies have become increasingly ambitious, including the establishment of a marine energy wholesale purchase rate of TWD 7.32 (USD 0.23). This, he said, would help diversify the island’s energy mix and allow Taiwan to achieve its clean energy targets.
Inna Braverman, founder and CEO of Eco Wave Power, expressed her enthusiasm for the collaboration, praising the hospitality extended by the Taiwanese team and emphasising the potential for long-term success. She commented: “Taiwan’s coastline, coupled with its technological expertise, makes it an ideal location for Eco Wave Power’s technology. We are excited to produce our floaters locally, which will not only generate clean electricity but also create jobs in wave-energy-related sectors.”
Braverman believes the deal will help promote wave energy throughout Asia, setting a precedent as the first onshore wave energy project in the region. “This collaboration is a significant step towards implementing wave energy across Asia, and together, we aim to change the world, one wave at a time.”
The partnership, initially built on a memorandum of understanding signed in June 2023, represents a significant milestone for both companies and reaffirms their commitment to advancing clean energy. Taiwan, as an island nation with vast marine resources, is set to benefit from this cutting-edge renewable technology, positioning itself as a regional leader in ocean energy.