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Blackbird to build wave power plant in Guinea-Bissau
- 9 years ago (2015-05-05)
- Junior Isles
Energy firm Blackbird International, a global leader in renewable sea wave energy technology (WERPO), has announced that it will build a $500 million, 500 MW wave power plant along the coastline of Guinea-Bissau.
Asia Pacific Nuclear Energy (APNE) 2025
The government of Guinea-Bissau will have a 30 per cent stake in the project and will receive 40 per cent of the profits over 25 years.
Blackbird International, which is the sole shareholder of Israeli energy firm Wave Electricity Renewal Power Ocean, estimated that the project would cost $325 million and that the government would pay 10 cents per kilowatt hour once the power plant is completed.
Work is expected to take three years and the annual revenue will be $50 million.
Mr. Shmuel Ovadia, Director and inventor of Blackbird's wave technology stated: "Guinea-Bissau is a perfect location to introduce sea wave energy as a viable and profitable solution for rising energy needs by implementing our patented technology and is further testament to our unique and patented sea wave power generation technology and its world-wide demand."
The project will help Guinea-Bissau become more independent with a stable power supply that can help solve many of the country's power problems.