Eco Wave Power Global AB has signed a Memorandum of Understanding (MoU) with Bharat Petroleum Corporation Limited (BPCL) to explore the potential of wave energy in India. The agreement, announced on February 13, 2025, during India Energy Week 2025, marks a significant step in incorporating wave energy into India’s renewable energy mix.
The MoU was signed by Mr. Chandrasekhar N, Head of Research and Development at BPCL, and Ms. Inna Braverman, Founder and CEO of Eco Wave Power, in the presence of India’s Minister of Petroleum and Natural Gas, Hardeep Singh Puri, and BPCL’s Chairman and Managing Director, Mr. G. Krishnakumar.
The collaboration supports India’s Ministry of New and Renewable Energy’s (MNRE) efforts to tap into ocean energy as a renewable resource, with an estimated 40,000MW of untapped potential along the country’s coastline.
BPCL, a government-owned Fortune 500 company with a market capitalization of around $12 billion, has selected Eco Wave Power as a strategic partner after evaluating various technologies. The partnership aligns with BPCL’s commitment to achieving Net Zero emissions by 2040 and expanding its renewable energy efforts.
Under the MoU, Eco Wave Power and BPCL will jointly develop projects in India, starting with a feasibility study. The first phase will involve a 100kW pilot project at BPCL’s Mumbai Oil Terminals, with plans for larger commercial-scale installations across the country.
BPCL will handle regulatory approvals, permits, and land use consents, while Eco Wave Power will provide its patented wave energy technology, conduct research, and optimize power generation.
Inna Braverman, Founder and CEO of Eco Wave Power, commented: “Partnering with BPCL, one of India’s largest energy companies, is a transformative moment for Eco Wave Power. With over 250 million people living along India’s 7,516 km coastline, the potential for wave energy is enormous. This MoU represents a major step toward positioning wave energy as a mainstream power source in India’s clean energy transition.”
