Lian Tat and Eco Wave Power partnering on wave energy
06 July 2023 16:46
The partnership will begin with a 100-kilowatt wave energy pilot project that is expected to expand to a total installed capacity of 20 megawatts.
“As an island with most of its population by the shore, Taiwan has a unique capacity to have wave energy at the forefront of the country’s renewable energy portfolio,” said Eco Wave Power’s Founder and CEO Inna Braverman in a June 22 press release. “We are looking forward to taking this historic first step.”
Under the companies’ memorandum of understanding, Lian Tat will obtain permits and fund the pilot project. Eco Wave Power will provide power generation equipment and other wave energy conversion technology as well as its general expertise.
“Wave energy has enormous potential as a renewable energy source,” said CY Huang, chairman of the Lian Tat Company. “With Eco Wave Power’s innovative technology, our collaboration will establish a benchmark project that will demonstrate the viability and scalability of wave energy in Taiwan, especially with the country’s 1,566 kilometers of coastline.”
Huang, who is also president of FCC Partners, a major Asian investment banking firm, has pushed the Lian Tat Company to develop more sustainable projects to decarbonize operations and reduce pollution since he became chairman in 2016.
Eco Wave Power Global is now working on major wave energy projects in Israel and Los Angeles in the US. The company has 404.7 megawatts of wave energy projects in the pipeline. ce/jd