Exploring Wave Energy Potential in India: Eco Wave Power Partners with BPCL
Wave energy developer Eco Wave Power has recently entered into a memorandum of understanding (MoU) with Bharat Petroleum Corporation Limited (BPCL) to investigate the possibilities of wave energy in India.
Eco Wave Power believes that this collaboration aims to propel the country’s renewable energy aspirations by tapping into its estimated 40,000 MW wave energy capacity.
As a state-owned Fortune 500 company, BPCL evaluated various wave energy technologies and ultimately selected Eco Wave Power as its strategic ally. The partnership will kick off with a feasibility study and the installation of a 100 kW pilot project at BPCL’s Mumbai Oil Terminals. Future plans involve expanding to commercial installations throughout India.
Under the MoU, BPCL will oversee regulatory approvals, permits, and land agreements, while Eco Wave Power will contribute its patented wave energy conversion technology, conduct research, and enhance power generation efficiency.
The agreement was formally signed by Chandrasekhar N, Head of Research and Development at BPCL, and Inna Braverman, Founder, and CEO of Eco Wave Power, in the presence of Hardeep Singh Puri, Minister of Petroleum and Natural Gas of the Government of India, and G. Krishnakumar, Chairman and Managing Director of BPCL.
“Partnering with BPCL, one of India’s largest energy companies, marks a significant milestone for Eco Wave Power,” stated Braverman.
“With a coastline spanning 7,516 km and over 250 million people residing along it, the potential for wave energy in India is immense. This MoU signifies a crucial step towards establishing wave energy as a mainstream power source in India’s transition to clean energy.”
This partnership aligns with BPCL’s objective of achieving net-zero emissions by 2040 as the company expands its renewable energy endeavors.
Earlier in February, Eco Wave Power announced its intention to collaborate with a Fortune 500 Indian company for the inaugural wave energy pilot project in Maharashtra, India.
Aside from its initiatives in India, Eco Wave Power is actively pursuing other wave energy projects, including ventures in Taiwan and the Port of Los Angeles, as part of its global technology scaling efforts.