Israeli and Indian tie-up to bring Ghana wave plant online

Israeli wave energy company Yam Pro Energy has signed a memorandum of understanding with the Indian business conglomerate Shapoorji Pallonji (SP) Group to build wave energy power station in Ghana.

The partnership involves Yam Pro, a local partner and SP Group, which will be responsible for raising the finances.

The initial phase of the project will see the construction of a 10MW wave energy plant.

The developers said they expect to expand the plant to 150MW in the next three years, reaching an estimated worth of $180 million.

Zeev Peretz and Laser Rothshtein, the joint CEO’s of Yam Pro, said in a joint statement: “We are very excited today reaching such a substantial milestone as one of the largest EPC companies in the world is giving confidence in our technology and company and are willing to start a cooperation in Ghana.

“We are hoping this will be a start of a global cooperation with SP that we can together revolutionize the energy market around the world.”

Yam Pro Energy’s wave energy device (Photo: WERPO)

SP Group has a workforce of 60,000 with a turnover of $4.2 billion. The promoters of the group are the largest individual shareholders in Tata Sons, the holding company of the Tata Group. They hold 18% and are the second largest shareholder in the Tata Group, according to Yam Pro Energy.

To remind, Yam Pro Energy was created by Shahar Energy after it bought the building, patent, and intellectual property rights from WERPO for its wave energy technology.

WERPO, owned by Blackbird International Corporation (BBRD), sold its rights for a 20% share in profits from the yet to be constructed wave energy projects across the globe.

Share this article

Follow Marine Energy

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

OEE Conference & Exhibition 2019

OEE2019 is organised by Ocean Energy Europe, the industry association representing ocean energy in Europe.

read more >

Offshore Energy Exhibition and Conference (OEEC) 2019

Offshore Energy Exhibition and Conference (OEEC) is where the energy transition takes place. It is Europe’s leading gathering of the entire offshore energy industry and your opportunity to network with highly qualified experts and professionals across global markets.

For more than 12 years OEEC is unique in bringing together the offshore energy industry sectors oil & gas, offshore wind and marine energy. More than 550 exhibitors from around the world present their newest services, projects and innovative products. On top of this OEEC presents international trade missions, pavilions, exclusive network lounges of the OEEC member club, the Startup Zone, matchmaking areas, the Stage and networking drinks. Approximately 12,000 professionals will visit the exhibition, take part in strategic discussions, immersive technical conference sessions focusing on the future and technical developments in the industry. Three days of networking and together shaping the future of energy.

So the question is not if but how you will be participating at Offshore Energy 2019.

More info

read more >

The International Tidal Energy Summit 2019

The 2019 International Tidal Energy Summit will bring together 120 dedicated tidal energy leaders.

read more >