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Israel’s Blackbird International Corporation (OTC: BBRD), a global leader in renewable sea wave energy technology(WERPO), announced that it signed an agreement with the government of Guinea-Bissau for the development of a 500MW sea wave power plant along the coastline of that country at a value of $500 Million.
The Project will be a Joint Venture with the Government of Guinea-Bissau whereas the Government will have a 30% partnership and earn 40% of the profits for a period of 25 Years.
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BBRD is forecasting the costs of the project at an estimated $325 Million USD for the entire project. The government of Guinea-Bissau is obliged by the contract to pay 10 Cents per KWH and our projections are for $50 Million yearly revenue from this contract. Current estimates are that the actual planning and building will take three years until completion.
BBRD boasts that this project will help Guinea-Bissau become more independent with a stable power supply that can solve all the energy problems in the country.
Mr. Shmuel Ovadia, Director and inventor of BBRD’s technology stated, “Guinea-Bissau is a perfect location to introduce sea wave energy as a viable and profitable solution for rising energy needs by implementing our patented technology and is further testament to our unique and patented sea wave power generation technology and its worldwide demand.”
