March 20 (Renewables Now) - Dublin-based wave energy technology firm Seabased is planning a 10-MW wave power park in Tongatapu in the South Pacific island country of Tonga, according to an announcement on Friday.
A Memorandum of Understanding (MoU) for this project was signed in February by the company, the government of the Kingdom of Tonga and SIDS DOCK, the small island developing states (SIDS) sustainable energy and climate resilience organisation. During a meeting in New York last week, Va?inga Tone, chair of SIDS DOCK Executive Council, has added his signature to the MoU.
The project is designed to tackle high energy costs. An initial 2-MW phase is expected to save Tonga USD 2 million (EUR 1.87m) in foreign exchange, replace two million litres of fuel and provide enough power for 2,800 homes, according to the announcement. The second phase will add a further 8 MW. It is projected to meet half Tonga’s energy needs and reduce emissions by 20%.
The company expects to bring phase two online in two years after signing a power purchase agreement (PPA).
Seabased plans a 40-MW wave power plant https://renewablesnow.com/news/seabased-signs-site-deal-for-40-mw-wave-e... target="_blank">in Bermuda that will start with a 2-MW pilot project.
(USD 1 = EUR 0.933)