Eco Wave Power Global AB has signed an agreement to sell its first wave energy generation unit to I-Ke International Ocean Energy Co., a subsidiary of Taiwan’s Lian Tat Company. This deal marks the start of Eco Wave Power’s wave energy project in Taiwan, the company’s first in Asia.
Under the agreement, I-Ke will fully fund a 100KW pilot project by purchasing a turnkey conversion unit from Eco Wave Power. The unit includes all necessary hydraulic and electric components, along with a control and automation system. The first pilot site will be located on Taiwan’s east coast, and I-Ke has also identified 83 other possible locations for future projects.
The agreement follows a memorandum of understanding signed in June 2023 between Eco Wave Power and Lian Tat. I-Ke will produce key components locally, including the floaters and hydraulic cylinders. This localization is expected to position Taiwan as a hub for future wave energy expansion in the Asia-Pacific region.
The project will begin with the 100KW pilot, with plans to scale up to 20MW, and ultimately a target of 400MW of commercial wave energy capacity along Taiwan’s coastline.
During a press conference in Taipei, CY Huang, Chairman of Lian Tat, highlighted the importance of the project for Taiwan’s renewable energy sector. “The construction of Eco Wave Power’s project is relatively easy, and I believe that it will be a significant stepping stone for the development of green electricity in Taiwan. Once the 100KW demonstration site is built, with positive results, our target is to expand it to 20MW, and we will continue to push up to more than 400MW of wave energy installed capacity.”
Eco Wave Power CEO Inna Braverman also expressed optimism about the partnership: “I am certain that Eco Wave Power’s official visit in Taiwan and the signing of this official collaboration agreement between our companies is the beginning of a true friendship and a productive business collaboration.”
The project aligns with Taiwan’s growing focus on renewable energy, supported by a marine energy purchase rate of TWD 7.32 (USD 0.23) per kilowatt-hour.
This deal represents a major step in bringing wave energy to Taiwan and could serve as a model for further adoption of the technology across Asia.
