InvestorIdeas breaking stock market news: Eco Wave Power (NASDAQ: $WAVE) Taps into Taiwan’s Renewable Energy Expansion Plan; @EcoWavePower

Eco Wave Power (NASDAQ: $WAVE) Taps into Taiwan’s Renewable Energy Expansion Plan; @EcoWavePower

Investorideas.com (www.investorideas.com) a go-to platform for big investing ideas, including water and renewable energy stocks, reports on developments for Eco Wave Power Global AB) (NASDAQ: WAVE), a leading, publicly traded onshore wave energy technology company that recently announced entering the renewable energy market in Taiwan.

According to Statista.com, Taiwan's total capacity of renewable energy reached some 17 gigawatts in 2023. This represented an increase of more than 27 percent in comparison to the previous year, and the highest figure reported during the period in consideration.”

Renews.biz. reported this month, “Taiwan is planning a major expansion of renewables to meet growing power demand, according to a senior government official.”

Continued: Deputy director of the energy bureau of the ministry of economic affairs Lee Chun-Li (centre) told a press conference in Taipei today that the island is eyeing growth as well as diversification of its green energy sector.

Continued: Chun-Li said as well as more wind and solar generation, the administration wants to grow its use of tidal, hydro and geothermal.

In early October Eco Wave Power Global AB (NASDAQ: WAVE) announced that it signed an agreement for the sale of the first wave energy generation unit with I-Ke International Ocean Energy Co., a subsidiary of Lian Tat Company , a leading maritime engineering company, with the purpose of bringing Eco Wave Power's wave energy technology to Taiwan.

*Paid news dissemination for WAVE

Read this news, featuring WAVE in full at https://www.investorideas.com/news/2024/renewable-energy/10241Eco-Wave-Power-WAVE-Taiwan.asp

According to the terms of the agreement, I-Ke will be providing the full financing for the 100KW pilot project, by buying a turnkey conversion unit from Eco Wave Power. This conversion unit for the 100KW wave energy power station includes all the hydraulic and electric conversion parts, coupled with the smart control and automation system.

I-Ke has identified the location for the first pilot station of 100KW installed capacity on the east coast of Taiwan (along with an additional 83 potentially suitable sites) and it is responsible for obtaining permits, land use consents and any licensing and approvals necessary to complete the installation of the planned wave energy projects. Moreover, I-Ke will locally produce the floaters, hydraulic cylinders and all other components of the technology, which are located on the seaside of the marine structure. I-Ke believes this will position Taiwan as the hub for later stage expansion into other Asia Pacific regions.

This newly signed agreement, which is based on a memorandum of understanding (MOU) that was signed between Lian Tat and Eco Wave Power in June 2023, will leverage Eco Wave Power's wave energy conversion technology, which has been deployed in several locations worldwide (such as Gibraltar, Israel, and soon in Los Angeles and Portugal), to maximize energy extraction and optimize the project's performance for the Taiwanese coastline.

Recent news for WAVE

https://finance.yahoo.com/news/eco-wave-power-signs-wave-123400004.html

Research more renewable energy stocks with Investorideas.com free stock directory and water stocks directory

About Investorideas.com - Big Investing Ideas

Investorideas.com is the go-to platform for big investing ideas. From breaking stock news to top-rated investing podcasts, we cover it all. Our original branded content includes podcasts such as Exploring Mining, Cleantech, Crypto Corner, Cannabis News, and the AI Eye. We also create free investor stock directories for sectors including mining, crypto, renewable energy, gaming, biotech, tech, sports and more. Public companies within the sectors we cover can use our news publishing and content creation services to help tell their story to interested investors.

Investorideas.com Disclaimer/Disclosure: This is paid news dissemination on behalf or Eco Wave Power (NASDAQ: WAVE) Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. More disclaimer info: More disclaimer and disclosure info https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp