Offshore staff
TEL AVIV, Israel — Eco Wave Power Global AB has signed a memorandum of understanding with Lian Tat Co. (LTC), a maritime engineering company, to bring Eco Wave Power’s wave energy technology to Taiwan.
According to the terms of the agreement, Eco Wave Power and LTC will enter into negotiations regarding the establishment of a joint venture (JV) company to develop wave energy projects in Taiwan.
LTC will be responsible for obtaining permits, land use consents and any licensing and approvals necessary to complete the installation of the planned wave energy project. Moreover, the company will be responsible for funding the JV and the project during the pilot phase, in addition to managing the construction, operation and maintenance of the project in Taiwan.
Eco Wave Power will assist in the research and evaluation of the project’s feasibility, provide the power generation equipment and knowledge, and perform troubleshooting. The partnership will leverage Eco Wave Power’s wave energy conversion technology, which has been deployed in several locations worldwide, to maximize energy extraction and optimize the project’s performance.
The first stage of the project will be the development of a 20-MW wave energy power station in Taiwan, which would begin with a 100-kW pilot and then expand in stages to a total installed capacity of 20 MW.
06.22.2023
