Mitsui O.S.K. Lines Ltd (MOL) has announced that its proposed wave power project in Mauritius was selected for Ministry of Economy, Trade and Industry (METI) subsidy programmes.
Wave power is one of ocean's renewable energies which has not been commercialised in full scale yet, but in some regions of Europe and the US, large scale demonstration tests and commercialisation projects using subsidies are moving forward.
Since Mauritius has drawn up a roadmap to raise the percentage of renewable energy to 35% or 40% by 2030, and positions wave power as one of the future power sources, MOL made a proposal to the programme for the contribution to the nation's environmental strategy.
MOL entered into an agreement with Bombora Wave Power Pty Ltd of the UK to evaluate the prospects of the wave energy business in Japan and Asia in January 2021. Both companies are conducting research to identify wave energy potential, using Bombora's unique mWaveTM energy converter and site selection with consideration for the natural environment by using a geographic information system (GIS) in Mauritius.
Through this project, MOL will move forward with its ‘Expanding Low-Carbon and Decarbonisation Projects through Use of the MOL Group's Concentrated Strengths’ initiative, which aims to achieve ‘MOL Group Environmental Vision 2.1’ and contribute to Mauritius’ society and environment.
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Read the article online at: https://www.energyglobal.com/other-renewables/12102021/meti-selects-mol-wave-project-for-subsidy-programme/