MendoCoastCurrent, July 19, 2008
S.D.E., an Israeli wave energy developer, has signed an agreement to develop and sell wave energy plants throughout China. Construction of the power plants will be financed by investors from Hong Kong and China.
S.D.E. is in step with other wave energy developers, focusing on the advantages in producing electricity from waves. Currently, S.D.E. has a unique funding strategy in applying the wave power technology in their territories by attaching the franchise for selling electricity to the financiers funding the project.
On July 8, 2007 S.D.E. announced that the initial ‘model’ or test will be in the Guangzhou province in southern China. If it’s successful, S.D.E. will launch wave power plants throughout China. The process is subject to the approval of the Government of China which will purchase all electricity generated.
“Our system produces renewable and clean energy from sea waves,” said S.D.E. MendoCoastCurrent looks forward to learning more about the technologies they’ll employ.