Eco Wave Power signs agreement for sale of wave energy generation unit with I-Ke
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Eco Wave Power announced that it signed an agreement for the sale of the first wave energy generation unit with I-Ke International Ocean Energy Co., a subsidiary of Lian Tat Company, a maritime engineering company, with the purpose of bringing Eco Wave Power’s wave energy technology to Taiwan. According to the terms of the agreement, I-Ke will be providing the full financing for the 100KW pilot project, by buying a turnkey conversion unit from Eco Wave Power. This conversion unit for the 100KW wave energy power station includes all the hydraulic and electric conversion parts, coupled with the smart control and automation system. I-Ke has identified the location for the first pilot station of 100KW installed capacity on the east coast of Taiwan (along with an additional 83 potentially suitable sites) and it is responsible for obtaining permits, land use consents and any licensing and approvals necessary to complete the installation of the planned wave energy projects. Moreover, I-Ke will locally produce the floaters, hydraulic cylinders and all other components of the technology, which are located on the seaside of the marine structure. I-Ke believes this will position Taiwan as the hub for later stage expansion into other Asia Pacific regions. This newly signed agreement, which is based on a memorandum of understanding that was signed between Lian Tat and Eco Wave Power in June 2023, 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 for the Taiwanese coastline. According to a press statement made by I-Ke, the first stage of the project will be the development of a 20 MW wave energy power station in Taiwan, beginning with a 100KW pilot and expanding in stages to a total targeted installed commercial capacity of 400 MW.
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