Eco Wave Power has signed a purchase agreement with Bharat Petroleum Corporation Limited (BPCL) for the site assessment phase of the wave energy project it intends to develop in Mumbai, India.
Details of the Purchase Agreement
This agreement has been issued by BPCL for a comprehensive site assessment study at its offshore oil terminals in Jawahar Deep. The purpose of this assessment is to examine the technical feasibility and site conditions for the installation of Eco Wave Power's wave energy technology within the existing marine infrastructure. This assessment is intended to advance the planned pilot installation currently underway.
Project Timeline and Objectives
This assessment will include the preparation of a work plan and detailed site assessment, a study of local marine conditions, and a final site assessment report. The related work is expected to be completed within four months after the issuance of the purchase agreement.
Inna Braverman, founder and CEO of Eco Wave Power, described this phase as a sign of the growing interest of major global energy companies in their technology and the potential for integrating wave energy production into existing marine infrastructure. She further added that India offers an extraordinary opportunity with an untapped potential of nearly 40,000 megawatts of marine energy. Collaboration with BPCL could lay the groundwork for large commercial wave energy projects in the country.
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