CorPower is establishing a €16 million ($18 million) facility in Portugal for research, development and manufacturing of wave energy converters.
CorPower is partnering with port authority APDL – Administração dos Portos do Douro, Leixões and Viana do Castelo to develop the facility.
The service centre will be in Viana do Castelo in northern Portugal.
The facility will support CorPower in deploying its HiWave-5 pilot project and to supply commercial wave energy farms in the future.
A strong competence pool of engineers from adjacent sectors such as offshore wind, composite manufacturing and shipyards, top-level universities and industrial infrastructure including ports and grid connection allows effective upscaling of operations in the region.
Portugal also presents an ideal environment for HiWave-5 due to its natural assets and environmental consciousness.
By accelerating the adoption of wave energy in Portugal, CorPower says it will complement the country’s Industrial Strategy for Ocean Renewable Energies, designed to create a competitive and innovative industrial export cluster for ocean renewable energy.
A spokesperson for the APDL Board said: “This project is in line with European sustainability objectives and is a considerable step towards decarbonisation and large-scale implementation of clean energy. We intend to serve as an example for other European ports with regards to the utilization of existing infrastructures for similar purposes.”
The announcement of the launch of the facility follows grid operator REN installing a new offshore cable servicing floating wind.
Utilities in Portugal have also shown significant commercial interest in wave energy.
Patrik Moller, the CEO of CorPower, said: “This is a crucial stage in our pursuit to develop a new class of high-efficiency Wave Energy Converters.
“CorPower’s goal is to successfully introduce certified and warrantied WEC products to the market by 2024, making wave energy a bankable technology that can attract mainstream renewable project finance.
“Around 15 highly qualified engineering jobs are planned for the next three years, covering composite design and manufacturing, mechanical, electrical, control and marine operations.”
“Wave energy can play a fundamental role in Portugal’s transition to 100% renewable energy, while providing a platform to drive Portuguese exports and long-term investment opportunities for local supply chains.
“The HiWave-5 program is recognised as one of the most ambitious efforts in ocean energy. The arrival of HiWave-5 is set to reinforce Portugal’s reputation as a world-leader in renewable energy, with significant investment in people, technology and facilities.”