July 9, 2008
SDE to Build Sea Wave Power Plants in China
Israel-based renewable energy developer SDE has signed an agreement for developing sea wave power plants across China. Construction of the power plants will be financed by investors from Hong Kong and China.
Two joint venture companies, formed in Hong Kong by SDE and the investors for the implementation of the agreement, will build an initial model in the Guangzhou Province in southern China.
In the event the model proves to be successful, they will launch the establishment of sea wave power plants throughout China. The process is subject to the approval of the government of China, which is expected to purchase the entire quantity of electricity generated.