Government signs first Power Purchase Agreement for Renewable Energy
Eco Wave Power to build a 5 MW Project in Gibraltar .
H.M. Government of Gibraltar has this week signed its first power purchase agreement for the provision of renewable energy.
The agreement with Eco Wave Power is for the provision of an initial 0.5MW energy device on the eastside, with a view to further expansion up to a full 5MW plant if the project is successful.
Eco Wave Power is an international wave power developer, headquartered in Israel. Their technologies use uniquely shaped buoys to capture and convert wave energy into low-cost, clean electricity and the floaters will be specifically designed in accordance with our particular wave climate. The system will also have in-built storm protection and shock-wave protection mechanisms.
Wave energy is being deployed more and more widely across the globe and Gibraltar’s unique location, coupled with the ability to reliably calculate and project wave patterns, mean that this is a very promising technology for the Rock.
This agreement forms part of H.M. Government of Gibraltar’s overall plan for increasing the level of renewable energies in Gibraltar, with a view to moving away from our current dependence on fossil fuels towards a more sustainable energy future.
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