Eco Wave Power signed an agreement with OREN Ordu Energy, a wholly owned subsidiary of Ordu Municipality, for the construction of a 77 MW wave energy facility in Turkey.
Following the agreement signed with Oren Ordu Energy, Israel’s Eco Wave Power (EWP) company will build the world’s largest wave power plant on the Black Sea coast of Turkey. The project will be Turkey’s first grid-connected wave power station and, when completed, the world’s largest wave power plant.
Under the agreement, Ordu Energy will transfer nine potentially eligible breakwaters to Eco Wave Power for a period of 25 years from the start of operation of the relevant pilot or power plant, while Eco Wave Power will be responsible for the construction, commissioning and sale of the power plant(s).
It Will Offer A Total of 77 MW of Electricity Capacity
Within the scope of the project, up to 4 MW will be commissioned from a pilot station and an additional 73 MW will be added to the power plant’s capacity in the future. Ordu Energy will be entitled to partially invest in different phases of the project. On the other hand, the entire project is expected to cost around 150 million dollars.
“With the goal of building a self-sufficient grid in the region, Ordu sees EWP as an important asset to fully realize our 100% clean energy potential,” said Mustafa Kemal Macit, Ordu Energy CEO.
“The entire municipality of Ordu is excited to realize the full potential of the sea and to use the sea’s unlimited energy resource to power our electricity grid. This project demonstrates that Ordu Energy is committed to investing in innovative clean energy technologies.”
EWP CEO Inna Braverman said: “This landmark agreement… will allow us to deliver clean electricity from Turkish waves for the first time. With its ambitious sustainability goals and regional proximity to our headquarters, Turkey is an interesting place to further implement and develop our innovative wave energy technology.”
Joint Effort of Netanyahu and Erdogan
The agreement “reflects a renewed effort to bridge Turkish-Israeli relations in a recent phone call between Israeli Prime Minister candidate Benjamin Netanyahu and Turkish President Recep Tayyip Erdogan, aimed at agreeing to establish a ‘new era in relations,'” the two companies said in a statement.
EWP’s Solution Used in Tel Aviv
EWP’s grid-connected wave power plant is currently in use in Tel Aviv, Israel, with investment from the country’s energy ministry. EWP will also begin a pilot installation in the Port of Los Angeles.
While the world is rapidly turning to renewable energy sources, wave energy will occupy an important place. Ocean Energy Europe estimates that 100GW of installed capacity will be reached by 2050, which will meet 10% of Europe’s current electricity needs.