November 12, 2008

SDE Energy to Build 100MW Wave Power Plant in Africa

SDE Energy, a developer of technologies for sea wave power generation, has received a 25-year concession from an undisclosed country in Africa to build wave power plants with a total capacity of 100MW.

The cost of this project is $100 million and the expected revenues from the electricity sold are estimated to be approximately $1 billion. Meanwhile, the company has started negotiations with global institutions for insuring the project and providing financial guarantees.

SDE said that the system has the highest efficiency rate and the lowest installation cost. To date, the company has built eight models that have operated successfully, the last of which had a power capacity of 40kW.