Eco Wave Power and Lian Tat Company sign MoU

According to the terms of the agreement, Eco Wave Power and LTC will enter into negotiations regarding the establishment of a joint venture (JV) company to develop wave energy projects in Taiwan. Given Lian Tat’s expertise and leadership in Taiwan’s maritime industry, LTC will be responsible for obtaining permits, land use consents, and any licensing and approvals necessary to complete the installation of the planned wave energy project. Moreover, Lian Tat will be responsible for funding the JV and the project during the pilot phase, in addition to managing the construction, operation, and maintenance of the project in Taiwan. Eco Wave Power will assist in the research and evaluation of the project’s feasibility, provide the power generation equipment and knowledge, and perform troubleshooting. The partnership will leverage Eco Wave Power’s wave energy conversion technology, which has been deployed in several locations worldwide, to maximize energy extraction and optimise the project’s performance.

The first stage of the project will be the development of a 20 MW wave energy power station in Taiwan, which would begin with a 100 kW pilot and then expand in stages to a total installed capacity of 20 MW.

“We are excited to partner with Lian Tat Company to bring wave energy to Taiwan,” said Eco Wave Power’s Founder and CEO, Inna Braverman. “As an island with most of its population by the shore, Taiwan has a unique capacity to have wave energy at the forefront of the country’s renewable energy portfolio. We are looking forward to taking this historic first step towards implementing Eco Wave Power’s technology throughout Taiwan.”

“I believe that wave energy has enormous potential as a renewable energy source, and this collaboration is a significant step towards unlocking that potential,” added Lian Tat Company Chairman, CY Huang. “With Eco Wave Power’s innovative technology, our collaboration will establish a benchmark project that will demonstrate the viability and scalability of wave energy in Taiwan, especially with the country’s 1566 km of coastline.”

In addition to producing 20 MW of clean energy, the project is expected to create numerous economic benefits, including job opportunities in manufacturing, transportation, construction, and engineering.

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