December 8 (Renewables Now) - Eco Wave Power Global AB (NASDAQ:WAVE) said today it has signed a concession agreement to potentially build an up-to-77-MW wave energy installation in Ordu, Turkey.
The agreement with OREN Ordu Enerji, a fully owned subsidiary of Ordu Municipality, was signed at Eco Wave Power’s offices in Tel Aviv, after a visit to the company’s grid-connected power station in the Port of Jaffa in Israel.
Under the agreement, Eco Wave Power will be assigned nine potentially suitable breakwaters by Ordu Enerji. Subject to feasibility studies, securing permits and other conditions, the 77-MW project is intended to be built in stages, starting with a pilot facility of up to 4 MW.
The total project is estimated to be worth USD 150 million (EUR 142m) and would be the world’s largest wave energy power station when completed.