Vizhinjam Port to host India’s pioneering wave energy project
THIRUVANANTHAPURAM : An Israel based company has initiated plans to install a generating plant at the Vizhinjam Port. Israel-based Eco Wave Power, an onshore wave energy developer, has begun discussions with the Adani Group to establish a wave energy generation plant at Vizhinjam Port, Kerala, according to a senior company official.
“We are in discussion with Adani Vizhinjam Port Private Limited (AVPP) for installing power floaters as they are building a new port where they want to make renewable energy,” Inna Braverman, founder and CEO of the Nasdaq-listed firm said.
The Vizhinjam port recently received the shipping ministry’s approval as the country’s first transshipment port, marking a significant milestone in India’s maritime infrastructure.
An Eco Wave Power official stated, “We are currently having discussions with AVPP surrounding the potential implementation of a wave energy project, initially utilizing the 980 meters of breakwaters for a prototype and later potentially incorporating the existing 3,000 meters of breakwaters in subsequent project phases.” Each megawatt (MW) of installed capacity at the port site will require 270 linear meters of breakwater space.
Braverman highlighted the regulatory challenges faced by the wave energy sector, noting that it lacks specific regulations and legislation. “While it takes around six months to build a power station, regulatory approval takes around three years,” she said. Braverman also acknowledged past failures of wave energy projects in Australia, Portugal, and Europe, primarily due to difficulties with offshore installations.
In August 2023, Eco Wave Power connected its station at the Port of Jaffa to Israel’s national power grid, becoming the first company to supply electricity generated from waves. The Jaffa station, with an installed capacity of 100 kilowatts (kW), can power around 100 homes at peak efficiency, supported by Israel’s Ministry of Energy and EDF Renewables IL.
The cost of building a 1 MW wave energy plant is approximately $1.5 million, comparable to investments in wind and solar energy, according to Braverman.
Founded in 2011, Eco Wave Power is also set to launch the first-ever US wave energy pilot in collaboration with Shell at AltaSea in the Port of Los Angeles. Additionally, the company received approval for the world’s first commercial-scale wave energy project in Porto, Portugal, with a 20 MW facility to supply electricity to 20,000 households.
Eco Wave Power initially raised capital from venture capitalists and was listed on Nasdaq in July 2021.
Currently, Braverman and David Leb own 26.5% and 26.7% shares in the company, respectively, with the remaining holdings owned by Alpha Capital, Pirveli Investments, and others.
The collaboration with Adani at Vizhinjam port represents a significant step forward in harnessing renewable wave energy in India, aligning with the global shift towards sustainable energy solutions.