Imagine capturing the constant motion of ocean waves and turning it into electricity, similar to how wind turbines work but underwater. This project is building a large-scale 'farm' of these devices in the North Atlantic to prove they can survive and work reliably. By doing this, they are showing banks and insurance companies that wave energy is a safe bet for big investments.
Wave energy has struggled to reach commercial scale because it is seen as too risky for banks and insurers to fund. There is also a lack of industrial capacity to manufacture these devices in large volumes.
A 2.5MW wave energy farm consisting of 7 convertors, including farm-level control systems, electrical architecture, and anchoring systems.
If you are a grid operator dealing with the need for diverse decarbonized power sources — this project developed a 2.5MW installation that proves wave energy can be integrated into the grid. This helps diversify the energy mix and increases energy security.
If you are a manufacturer dealing with low-volume specialized parts — this project developed a step-change in volume manufacturing for wave energy devices. This allows you to scale production capacity to service 100s of MWs of projects.
If you are an insurer dealing with the high risk of unproven offshore tech — this project developed a 15-year operational demonstration of 7 wave energy convertors. This data makes the technology insurable and bankable for large-scale deployment.
The project will deploy a 2.5MW installation consisting of 7 wave energy convertors, aiming to develop capacity to service 100s of MWs by the end of the project.
By deploying the world's largest wave energy farm, the project aims to de-risk the technology, specifically making it insurable and bankable for large-scale use.
Based on available project data, the project focuses on translating technology leadership into supply chain dominance and commercialization through a pipeline of projects, though specific licensing terms are not listed.
The project runs from 2026 to 2031, and the deployed farm is intended to operate for 15 years.
The farm will be deployed at the European Marine Energy Centre, which already has the necessary onshore and offshore electrical infrastructure to connect the farm to the grid.
The consortium is heavily industry-driven, with 57% industry participation (4 companies) and a strong reliance on SMEs (5 out of 7 partners). This structure, led by CorPower Ocean AB, suggests a strong focus on commercialization and supply chain scaling rather than pure academic research, as evidenced by only one university partner.
Contact CorPower Ocean AB in Sweden for partnership opportunities regarding wave energy supply chains.
Contact us to identify potential supply chain partners for the 2.5MW wave farm rollout.
