Eco Wave Power Global AB (Nasdaq-WAVE) has announced that its wave energy power plant in Tel Aviv has been officially connected to Israel’s power grid. The project was inaugurated by Israel’s Minister of Energy and Infrastructure, Eli Cohen, Minister of Environmental Protection, Idit Silman, and Tel Aviv-Jaffa’s Mayor, Ron Huldai. The Israeli National Electric Company (IEC) will purchase all electricity generated by the plant.
This project is the first wave energy facility in Israel and the Middle East. It operates under a Power Purchase Agreement with IEC and is recognized as a “Pioneering Technology” by Israel’s Ministry of Energy.
The technology uses floaters installed near the shore. These floaters move with the waves, creating pressure that drives a hydro-motor and generator to produce electricity. An automated system protects the plant during storms and ensures a consistent power supply to the grid.
Idit Silman emphasized the importance of exploring multiple renewable energy sources alongside solar power. Adding to that Ron Huldai explained the importance of environmental initiatives in reducing the strain on the planet.
The project was developed with support from the Municipality of Tel Aviv-Jaffa, the Atarim Group, Jaffa Port, and EDF Renewables. EDF contributed to the design, safety, construction, and operation of the facility. Ayalon Vaniche, CEO of EDF Renewables IL, noted that this collaboration would help diversify renewable energy options.
Inna Braverman, founder of Eco Wave Power, pointed out the global interest in wave energy. She stated that, “countries such as Turkey, Saudi Arabia, and Qatar have expressed interest in adopting the technology. Eco Wave Power plans to expand its projects internationally, with installations planned in Los Angeles, Taiwan, and Portugal.” The company’s project pipeline currently totals 404.7 MW globally.
