Eco Wave Power Global AB (Nasdaq: WAVE), a leader in onshore wave energy technology, has announced a major development in its wave energy project in Porto, Portugal. The company has partnered with MOQ Engineering, a respected Portuguese engineering firm, to finalize the design and load calculations for the innovative project. This milestone marks a crucial step in the project’s timeline, setting the stage for a targeted launch in 2026.
The Porto project is part of a 20 MW Concession Agreement with Administração dos Portos do Douro, Leixões e Viana do Castelo, S.A. (APDL). It will feature Eco Wave Power’s proprietary wave energy technology, alongside a groundbreaking underwater wave energy museum and education center. This museum, located beneath the breakwater, will house the company’s energy conversion equipment. The project is in line with Portugal’s renewable energy ambitions, which aim for 85% of the nation’s electricity to come from renewable sources by 2030.
Once MOQ Engineering completes its work, Eco Wave Power will submit the full execution plan to APDL, including the final engineering and technical specifications. APDL’s approval will trigger the next phase of the project, which involves producing the necessary floaters and other structural components.
The Porto wave energy project will be the first of its kind in the city, generating significant energy from ocean waves. This project will not only highlight the potential of Eco Wave Power’s technology but also contribute to reducing the port’s carbon footprint, creating new job opportunities, and advancing Portugal’s position as a leader in renewable energy.
In addition to the Porto project, Eco Wave Power is also working on initiatives in Taiwan and the Port of Los Angeles. The company plans to announce further projects in other countries, continuing to strengthen its presence in the wave energy industry and furthering its global renewable energy vision.
Inna Braverman, CEO of Eco Wave Power, emphasized the significance of this partnership: “Collaborating with MOQ Engineering is a vital step forward for our Portuguese project. Their engineering expertise ensures that we adhere to the highest operational and safety standards. With their work on track for completion in February, we’re moving closer to making wave energy an integral part of Portugal’s renewable energy mix.”
Manuel Cardoso, Partner at MOQ Engineering, expressed excitement about the collaboration: “We are thrilled to be part of this pioneering wave energy project. Our goal is to provide engineering solutions that meet the highest standards of safety, efficiency, and sustainability. By leveraging advanced technologies such as Building Information Modelling (BIM), we are optimizing the design for a more sustainable future.”
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