Eco Wave Power has signed an agreement with OREN Ordu Enerji, a fully owned subsidiary of Ordu Municipality, for the construction of a 77MW wave energy installation in Turkey – the country’s first grid-connected wave energy station, and upon completion, the world’s largest wave energy power station, said the company.
Under the agreement Ordu Enerji will assign nine potentially suitable breakwaters to Eco Wave Power for a period of 25 years from activation of the relevant pilot or power station, while Eco Wave Power will be responsible for constructing and commissioning the power plant(s) and selling the generated electricity in accordance with an approved production quota to be determined for the site.
The project is expected to be built in several stages, starting with an up to 4 MW pilot station, and continuing with the construction, operation, and maintenance of the remaining capacity of the plant of up to 73MW. Ordu Enerji has a right of first refusal to invest partially in different stages of the project, with the full project expected to cost $150 million.
“This is an important partnership that we hope further strengthens Türkiye and Israel’s ties,” said Ayse Mehlika Yildiz Ersen, Third Secretary of the Turkish Embassy in Tel Aviv. “We are pleased to welcome Eco Wave Power and their technology to the Republic of Türkiye.”
Inna Braverman, Founder and CEO of Eco Wave Power added: “We are very excited to announce this landmark agreement between Eco Wave Power and Ordu Enerji, as this relationship will allow us to provide clean electricity from Turkish waves, for the very first time. With ambitious sustainability goals and regional proximity to our headquarters, Turkey is an interesting location to further implement and develop our innovative wave energy technology.”
“With the goal to build a self-sufficient grid, Ordu sees Eco Wave Power as an important asset to fully realizing our potential for 100% clean energy,” commented Mustafa Kemal Macit, President and CEO of Ordu Enerji. “The entire municipality of Ordu is excited to fully realize the sea’s potential and use its unlimited source of energy to power our electrical grid. This project demonstrates that Ordu Enerji is committed to investing in innovative clean energy technologies.”
Since 2019, Ordu Enerji, a subsidiary of Ordu Metropolitan Municipality, has sought to contribute to the sustainable future of Turkey by turning to renewable energy sources. Ordu Enerji’s goal is to advance the energy sector throughout Turkey, in part by utilizing technology like Eco Wave Power’s wave energy conversion units.
The new project is Subject to certain conditions, including, among others, receiving favorable results from feasibility studies and receipt of applicable licenses and permits.
Image: Mustafa Kemal Macit, President and CEO of OREN Ordu Enerji and Inna Braverman, Founder and CEO of Eco Wave Power, signing a 77MW Concession Agreement in EWP offices