CorPower targets Portugal waves

CorPower is establishing a €16-million R&D, manufacturing & service centre for wave energy converters in Viana do Castelo, Portugal.

The location will support CorPower’s flagship demonstration project HiWave-5.

It will also support long-term development of supply and service capacity for commercial wave energy farms.

CorPower’s work further complements the Portuguese Industrial Strategy for Ocean Renewable Energies.

The strategy specifically aims to create a competitive and innovative industrial export cluster for ocean renewable energy.

Grid operator REN recently installed a new offshore cable servicing floating wind, and there is significant commercial interest from utilities and project developers for next generation wave project development.

Patrik Möller, CEO of CorPower Ocean, 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.

“The arrival of HiWave-5 is set to reinforce Portugal’s reputation as a world-leader in renewable energy.”

CorPower and port authority APDL agreed to develop the ocean energy facility within the commercial port of Viana do Castelo.

It will provide space for the fabrication, assembly and servicing of commercial scale wave energy converters.

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, in what regards to the utilization of existing infrastructures for similar purposes.”

Furthermore, Möller added that CorPower will contribute to the local blue tech cluster and maritime related value chains.

“The arrival of CorPower Ocean Portugal provides a foundation to ramp up exports and attract inward investment to the region.

The company also plans around 15 engineering jobs for the next three years.

These cover composite design and manufacturing, mechanical, electrical, control as well as marine operations.