Eco Wave Power enters Assembly Phase of the Jaffa Port Project
Eco Wave Power (EWPG Holding AB) a pioneer in wave energy technology, commences the assembly phase of the hydraulic land-located conversion unit for its first grid connected installation in Israel. This will be the first time that wave energy will connect to the national electric grid in Israel and a special Feed in Tariff (FIT) shall be determined for such purpose.
“We are making significant progress towards our first grid connected installation in Israel with the commencement of the assembly works. This is our second grid connected installation in the world”, says Inna Braverman, CEO of Eco Wave Power.
The hydraulic works are expected to be finalized within 30 days. Once hydraulic works are finalized, Siemens will commence the electric installation works. Once the land located conversion unit is fully assembled, EWP will perform final testing by means of wave simulation. This implies simulating different working pressures to examine the proper system performance. When wave simulation testing is completed successfully, the conversion unit will be transferred to Jaffa Port, where it will be connected to 10 large scale floaters.
Eco Wave Power is expected to initially install 1-2 large scale floaters, and after that install the full amount. The floaters are the largest in size that have been installed by EWP to date.
In parallel, Eco Wave Power’s engineering team and the EDF Renewables IL engineering team are working on enhancing automation, control and monitoring system and jointly handling the required remaining licensing and the securing of the designated wave energy FIT.
“In the management and development of this project, EWP has demonstrated agility and efficiency. We have finalized planning, engineering and the procurement phase for the installation of the power station within a short time-frame, and we are already commencing the exciting phase of assembly. I am very proud of our engineering department and our highly professional, top of the line subcontractors” says Inna Braverman, CEO of Eco Wave Power
The Jaffa Port power station is partially co-funded by the Ministry of Energy of Israel and by EDF Renewables IL, as part of the Joint venture agreement entered between the parties.
About EWPG Holding AB (SE0012569663)
EWPG Holding AB (publ) (“Eco Wave Power”) is a Swedish company, founded in Tel Aviv, Israel, in 2011, that has developed a patented, smart and cost-efficient technology for turning ocean and sea waves into green electricity. Eco Wave Power is the only wave energy company in the world, to own and operate a wave energy array of floaters, which is connected to the grid in accordance with a Power Purchase Agreement (PPA).
EWP is recognized as a “Pioneering Technology” by the Chief Scientist of Israel’s Ministry of Energy and was labelled as “Efficient Solution” by the Solar Impulse Foundation. Furthermore, EWP’s project in Gibraltar has received funding from the European Union Regional Development Fund and recently received funding from the European Commission’s HORIZON2020 framework program. The company also won the United Nations Climate Action Award for 2019, which will be granted to the company during COP25 in Madrid, Spain.
EWP holds projects pipe-line of 190MW and has six branches – in Sweden, Israel, Mexico, China, Australia, and Gibraltar.
For more information, please contact:
Yair Rudick, Business Development and Strategy
+972 350 940 17
Andreas Kihlblom, CFO
+46 (0)8 420 026 94