Government signs first Power Purchase Agreement for Renewable Energy

The Government of Gibraltar in Southern Spain recently signed a deal with Israeli renewable energy company, which includes the installation of a 0.5MW energy device on Gibraltar’s east side. There are plans to expand it to 5MW if the project is successful.

Eco Wave Power is an international wave power developer headquartered in Israel. Its technologies use buoys to capture and convert wave energy into low-cost, clean electricity. The floaters will be specifically designed in accordance with the region’s wave climate. The system will also have in-built storm protection and shock-wave protection mechanisms.

The choice of energy type was based on Gibraltar’s unique location by the sea, coupled with its ability to reliably calculate and project wave patterns. The agreement is part of the local government’s plan to increase the clean energy’s share of energy generation.

Source: Eco Wave Power