Data shows wave power technology is commercially viable, company says
Eco Wave Power has announced that data collected from its site in Gibraltar shows the company’s wave power technology is on the right path for commercialisation.
In a press release, company CEO Inna Braverman said: “I am very pleased to share analysed results from our Gibraltar array for the first time. This data confirms that Eco Wave Power is on the right path for commercialization and supports the fact that wave energy is a viable source of renewable electricity.”
The company also announced improvements in power output and significant cost reductions for the company’s grid-connected wave energy power plant on the Rock.
According to Eco Wave Power in 2018–2019, power production performance of the array reached 70% of the forecasted output for the site, as compared to 31% in 2017–2018.
Its direct maintenance and repair costs decreased from 18% of project cost in 2017, to 9% in 2018 and 4% in 2019.
The results of the data collected in Gibraltar have been analysed and verified by the Eco Wave Power engineering team and will also undergo independent verification by Dr. Guang Li, an expert in ocean energy at the Queen Mary University of London.
“I would like to commend Eco Wave Power for its transparency in revealing the results of their Gibraltar project. The release of real results has a significant importance for the progress of scientific and business communities working in the wave energy sector,” said Dr. Guang Li.
Opened in 2016, Eco Wave Power’s facility in Gibraltar generates electricity to the grid by harnessing the rise and fall of the waves.
The power plant is made up of a series of eight floaters, which are connected to one conversion unit, with a total installed capacity of 100 kW.