Eco Wave Power Secures Key Taiwan Port Lease, Boosting Wave Energy Investment in Asia-Pacific Maritime Sector
Eco Wave Power Global AB (NASDAQ: WAVE), a leading innovator in wave energy technology and offshore renewable power solutions, has reached a major milestone in its clean energy expansion strategy after securing a land use agreement for its wave energy project at Suao Port.
The company confirmed that its Taiwanese partner, I-Ke International Ocean Energy Co., signed a five-year land lease agreement with the port authority in December 2025, including an option for extension. This agreement enables the next phase of development for what is expected to become a flagship marine renewable energy project in Asia-Pacific.
Under regulatory requirements, the application to transfer land use rights must be submitted to Taiwan International Ports Corporation by March 22, 2026, with all port permits and maritime infrastructure approvals anticipated by October 2026.
Wave Energy Project Strengthens Renewable Energy Investment in Ports
The Suao Port project represents a strategic push into the high-growth Asia-Pacific renewable energy market, supporting the deployment of locally manufactured wave energy systems integrated directly into port infrastructure.
Inna Braverman, Founder and CEO, stated that the lease agreement is a critical step in expanding the company’s footprint in global clean electricity generation.
Taiwan’s increasing investment in sustainable energy, offshore power generation, and low-carbon infrastructure positions the project as a key contributor to the country’s energy transition and decarbonization goals.
CY Huang emphasized that the collaboration will help integrate wave energy into Taiwan’s renewable energy mix, reinforcing national efforts toward energy security and climate resilience.
Project Details: 100 kW Wave Energy Pilot at Strategic Port Location
The project follows a competitive land tender awarded to I-Ke by the Suao Port authority, granting exclusive rights to Zone C within the designated testing area.
The Taiwan Port Corporation allocated 6.75 hectares of breakwater space for wave energy testing, divided into three zones. I-Ke secured rights to one zone after a selection process completed in July 2025.
Eco Wave Power and I-Ke plan to deploy Taiwan’s first 100 kW onshore wave energy conversion unit, previously secured under a turnkey agreement signed in late 2024. This pilot installation is expected to demonstrate the commercial viability of ocean energy solutions in port environments.
Global Expansion of Wave Energy and Clean Power Technology
Eco Wave Power continues to expand its global renewable energy portfolio, with active and planned projects in the United States, Europe, and Asia.
The company operates Israel’s first grid-connected wave energy power station and recently launched a pilot at the Port of Los Angeles in collaboration with Shell Marine Renewable Energy.
With a development pipeline of over 404.7 MW, the company is positioning itself as a major player in the offshore renewable energy market, green infrastructure investment, and sustainable maritime technology.
Eco Wave Power has received support from global institutions including the European Union Regional Development Fund and recognition through the United Nations Global Climate Action Award.
