Eco Wave Power, a pioneering developer in wave energy technology, has officially signed a significant agreement with I-Ke International Ocean Energy Co., a subsidiary of Lian Tat Company (LTC), to deliver the first wave energy generation unit to Taiwan. This partnership marks a strategic step in advancing Eco Wave Power’s innovative technology within the region.
Under the agreement, I-Ke will fully finance a 100kW pilot project by purchasing a turnkey conversion unit from Eco Wave Power. This unit encompasses all essential hydraulic and electric conversion components, along with an advanced smart control and automation system designed to optimize energy production.
The chosen site for the inaugural pilot station is located along the eastern coast of Taiwan, with I-Ke identifying an additional 83 potential locations for future expansion. The company will manage all necessary permits, land use consents, and licensing approvals needed for the successful installation of the planned projects.
In a move to bolster local industry, I-Ke will manufacture the floaters, hydraulic cylinders, and other integral components of the wave energy technology at a seaside facility. This initiative positions Taiwan as a prospective hub for broader development in the Asia-Pacific region.
This agreement builds upon a memorandum of understanding (MOU) signed in June 2023 between LTC and Eco Wave Power. I-Ke has announced that the first phase of the project will involve constructing a 20MW wave energy power station in Taiwan, beginning with the 100kW pilot and aiming to expand to a total commercial capacity of 400MW.
“Taiwan’s extensive coastline of 1,566 kilometers presents a remarkable opportunity for marine energy installation,” said CY Huang, chairman of LTC. “The construction of Eco Wave Power’s project is relatively straightforward, and I believe it will serve as a critical step toward enhancing green electricity generation in Taiwan. Furthermore, it allows us to move beyond existing renewable energy constraints and explore diverse renewable energy avenues.”
Huang emphasized that Taiwan’s government has adopted more ambitious renewable energy policies, exemplified by the establishment of a marine energy wholesale purchase rate of TWD 7.32 (approximately US$0.23). He expressed confidence that this innovative approach to ocean energy will significantly transform and upgrade the domestic energy sector.
Founded in 1959, LTC has a rich history as a resource integrator, sourcing machinery and turnkey equipment from Europe and the United States to support local industrial growth. The company expanded its portfolio in 1980 to include marine diesel engines and established a marine engine service workshop in 1994. More recently, LTC has ventured into renewable energy and offshore wind power engineering.
I-Ke, established in 2023 as a wholly owned subsidiary of LTC, is focused on introducing commercial wave power generation technologies to Taiwan, promoting clean and sustainable energy solutions. Following the signing of the MOU with Eco Wave Power, I-Ke has been assessing wave power generation projects, securing installation sites, and gathering data on up to 100 additional potential locations across Taiwan, including offshore islands.
Eco Wave Power is renowned for its patented, cost-effective technology that converts ocean waves into green electricity. The company’s mission is to combat climate change by enabling commercial energy production from oceanic resources. Eco Wave Power currently operates a grid-connected wave energy project in Israel, co-funded by EDF Renewables IL and the Israeli Energy Ministry. The company is also preparing to install its third and fourth wave energy projects in the Port of Los Angeles and Portugal, boasting an extensive project pipeline totaling 404.7MW.
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