Israel-headquartered wave energy developer Eco Wave Power is planning pilot projects in Asia and aims to work with strategic partners across the region to commercialise operations, founder and CEO Inna Braverman told Infralogic.

In India, it has been in discussions with the Vizhinjam port project implementation arm of Adani Ports and Special Economic Zone (APSEZ) – the ports unit of infrastructure conglomerate Adani – and is expecting a letter of intent soon for a pilot project.

Once this is awarded and Eco Wave completes a feasibility study, the two companies will collaborate on the way ahead, including the funding, she said, adding that this is still under discussion.

The demonstration project will be located at Adani’s newly launched Vizhinjam transshipment port in Kerala state in southern India. It is likely to be between 1 MW and 3 MW although a final decision on the project’s capacity is yet to be taken.

Eco Wave needs 270 metres of breakwater to generate 1 MW, and it intends to build a prototype using an initial 980 metres of breakwater, said Braverman. The intention is to first use this and then increase capacity, incorporating the existing 3,000 metres of breakwater in subsequent phases.

The company will also explore the opportunity to work with APSEZ around the country’s approximately 7,500km coastline, said Braverman, adding the discussions are at a very early stage.

APSEZ has more than a dozen assets, handling roughly a quarter of India’s cargo movement, according to its website.

Projects in Singapore and Taiwan
Eco Wave Power last week held discussions with the Republic of Singapore Navy for a potential pilot project.

“They are looking to do a feasibility study and deploy Eco Wave Power’s technology on some of their bases and nearby islands,” Braverman said, adding that elsewhere in Asia, the company is getting ready to ship equipment and start work on a pilot project in Taiwan.

Eco Wave signed a memorandum of understanding in 2023 with Taiwan’s Lian Tat Company, agreeing to a joint venture to develop wave energy projects on the island.

Final discussions are now ongoing for entering into a definitive agreement, said Braverman, adding that a subsidiary of Lian Tat will be buying a 100 KW pilot project from Eco Wave Power with an aim to expand it to 20 MW.

The cost of a wave system can be as low as USD 1.5m when implemented at a commercial scale of 20 MW and more, said Braverman.

Eco Wave is currently focusing on Europe – where there is some legislation on wave energy – and the US, where it is publicly traded.

In Asia, it will prefer to approach the market with strategic partners that know their respective local markets and can potentially fund the initial development.

Debt finance
Lenders are not familiar with wave energy technology, which is at a stage where solar and wind energy were about three decades earlier, said Braverman.

“Once we commercialise the pilot projects that we are working on, we expect to have access to this financing really soon,” she said.

The company has been monitoring the performance of a project that it built in Jaffa Port in Israel – funded by French utility EDF and the Israeli government – since January this year, said Braverman.

“The really good news is that power generation has improved in the last six months and the downtime has come down from 35% in January to zero in June,” she said.

Braverman views both India and Taiwan as large, potential markets, given the thrust by both governments on renewable energy.

Taiwan’s Energy Administration last November issued a note stating it will be proactive in developing renewable energy, including ocean energy.

In India, Gujarat and Maharashtra states have earlier issued tenders for wave energy projects.

The Maharashtra Energy Development Agency estimates the potential for wave energy along the state’s 720km coastline to be around 500 MW.

“What I’d like to see is more and more companies trying to generate power from ocean waves because that will require governments worldwide to look at putting together a framework and legislation, which will help create a ready market,” Braverman said.