Eco Wave Power CEO Inna Braverman. Photo courtesy
Eco Wave Power Global entered into an official Power Purchase Agreement with the Israeli National Electric Company (“IEC”), based on the official Feed-in Tariff (“FIT”) which was set for the Company’s newly-installed wave energy project at the Port of Jaffa in Tel Aviv, Israel, by Israel’s Electric Authority (IEA).
With the Power Purchase Agreement in place, a private examiner has successfully approved the technology’s grid synchronization, in accordance with the accepted grid connection standards. Next, the Israeli Electric Company (IEC) will perform its own synchronization test and then will officially connect the EWP-EDF One wave energy project to Israel’s energy grid. Once connected, the EWP-EDF One Project will represent the first time in the country’s history that electricity produced by the power of waves will be transmitted to Israel’s national electric grid.
“The official start of grid connection for our EWP-EDF One Project is a moment that we have been waiting for, as it represents an important milestone for our company and our country,” said Inna Braverman, Eco Wave Power’s Founder and CEO. “Eco Wave Power is committed to making a positive change in the world, and we can’t wait to turn the switch on at the EWP-EDF One Project at the Port of Jaffa.”
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Founded in 2011, Eco Wave Power Eco Wave Power is an international wave power developer, headquartered in Israel. The company was established after a period of conceptualizing and planning for a new and competitive wave energy technology.
Eco Wave Power is the only wave energy company to ever win the Frost & Sullivan Product Innovation Award. According to Frost & Sullivan, “Eco Wave Power efficiently handles the prominent challenges prevailing in the field and offers an all-round solution for effective energy harvesting. Based on the aforementioned performance drivers as measured through Frost & Sullivan independent analysis, Eco Wave Power is the recipient of the 2012 Frost & Sullivan New Product Innovation Award”
The company has developed proprietary technology for extracting energy from ocean and sea waves and converting it into electricity. Such technology enables the delivery of effective, sustainable, practical, feasible and affordable wave energy solutions, which are responsive to the needs of local communities, cities, and countries globally wide.
The Eco Wave Power wave energy converter, says the company, is a simple and inexpensive technology to harvest wave energy from high and low waves. It is designed to be simple and robust while offering technical advantages over competing systems.
Eco Wave Power boasts that its system is being developed to produce electricity for cheaper prices than traditional energy generation methods such as: coal, oil and gas as well as renewable energy generation methods such as wind and Solar. This will be achieved by using low cost materials, low maintenance prices and periods and long life expectancies.
