CorPower Ocean has secured a €40 million grant from the EU Innovation Fund to develop VianaWave, a 10MW pre-commercial wave energy project off the northern coast of Portugal.
The project is part of Portugal’s National Energy and Climate Plan, which targets 200MW of installed wave energy capacity by 2030. VianaWave will include a CorPack of 30 Wave Energy Converters (WECs), designed to produce around 30GWh of electricity annually – enough to power approximately 7,500 homes.
Operations are expected to begin in 2028 or 2029. The project builds on CorPower’s previous HiWave-5 demonstration program and marks a move from pilot projects to commercial-scale deployment.
CorPower said the initiative places Portugal among leading countries in wave energy and could help pave the way for gigawatt-scale development. The EU-backed EVOLVE study estimates Portugal has up to 15GW of wave energy potential.
The grant will also support investment in onshore infrastructure, including upgrades to electrical systems in Agucadoura and Póvoa de Varzim, and the development of CorPower’s operational base at the Port of Viana do Castelo. The company estimates that 75% of the project’s lifetime spending will occur in Portugal, supporting local jobs in engineering, construction, and operations.
“This is a pivotal milestone for CorPower Ocean and the wave energy sector as a whole. VianaWave shows that wave energy is ready to scale. With strong support from the Innovation Fund and the Portuguese ecosystem, we are accelerating the transition to a sustainable, resilient energy system while delivering local economic value,” said Kevin Rebenius, CorPower Ocean’s Commercial Director.
The company expects the project to strengthen industrial supply chains, attract investment, and bolster Portugal’s position as a clean technology hub.
