CorPower Announces Wave Energy Project in Portugal
CorPower, a Swedish developer of wave energy converters (WEC), has announced that they will establish an R&D, Manufacturing, and Service Center for their wave energy converters in Viana do Castelo, Portugal.
The company and their technology complements the Portuguese Industrial Strategy for Ocean Renewable Energies. The choice in location will support the company’s demonstration project HiWave-5 and the long term development of supply and service capacity for wave energy farms.
“Several factors have contributed to choosing Viana do Castelo for this investment. 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,” CorPower said.
CorPower is on a mission to power the planet with clean energy from ocean waves. Their WEC is designed as a point absorber with a heaving buoy on the surface which absorbs energy from ocean waves. The buoy is connected to the seabed using a tensioned mooring line. The device oscillates in resonance with the incoming waves, amplifying the motion and power capture.
With Portugal intent on transitioning to 100% renewable energy, the continued innovation and investment in WEC products may play a fundamental role in this mission. The HiWave-5 project is the result of a decade of structured product development, and four decades of research on wave hydrodynamics. CorPower believes this will mark a final push towards commercialisation as part of a broader mission to make wave energy competitive with wind and solar by 2030.
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