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    8minute Solar Energy secures $400m in financing from EIG

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    Iberdrola consolidates its position as the biggest driver of renewables in Spain with the installation of 2,000 new MW during the pandemic

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    Cordelio Power Expands Into New York Market with SunEast Transaction

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    Array Technologies increased revenue 35% to US$872.7 million in 2020

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    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

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    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

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    Intersolar, EES and Power2drive NA Acquired by Diversified Communications

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    EDPR completes construction of Riverstart, Indiana’s largest solar farm

    EDPR completes construction of Riverstart, Indiana’s largest solar farm

    The smarter E Europe 2022: Focus on Green Hydrogen

    The smarter E Europe 2022: Focus on Green Hydrogen

    EDP signs a Build & Transfer Agreement for a 200 MWac solar project in the U.S.

    EDPR signs project finance for six wind farms with an aggregate capacity of 149 MW

    Amazon Becomes Europes Largest Corporate Buyer of Renewable Energy

    Israels Econergy to Build 800MW Storage Space, 900MW Solar Capacity in UK

    Argentina reveals its nuclear new build plans

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    OMV and VERBUND begin construction on Austria's largest area photovoltaic plant

    Better Energy inks bundled PPA for new solar park in Denmark

    8minute Solar Energy secures $400m in financing from EIG

    8minute Solar Energy secures $400m in financing from EIG

    Iberdrola consolidates its position as the biggest driver of renewables in Spain with the installation of 2,000 new MW during the pandemic

    Iberdrola consolidates its position as the biggest driver of renewables in Spain with the installation of 2,000 new MW during the pandemic

    Cordelio Power Expands Into New York Market with SunEast Transaction

    Cordelio Power Expands Into New York Market with SunEast Transaction

  • Market Moves
    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    GE Renewable Energy connects the world's most powerful hydro unit to the grid in Wudongde, China

    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

    Ferroglobe Hydro power

    Ferroglobe completes sale of Spanish hydro facilities to TPG Sixth Street Partners

    Intersolar, EES and Power2drive NA Acquired by Diversified Communications

    Intersolar, EES and Power2drive NA Acquired by Diversified Communications

    Summit Energy Services Announces Merger with Schneider Energy Consulting

    SeaMade secures €250m European loan for Belgian offshore wind farms

    SeaMade secures €250m European loan for Belgian offshore wind farms

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    UK renewable energy overtakes fossil fuels, despite Brexit fears

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    GE's digital power transformers selected for multiple projects across the globe

    GE’s digital power transformers selected for multiple projects across the globe

    Serbia, Republika Srpska start construction on hydroelectric plant on Drina river

    GE Renewable Energy to refurbish generators at the historic Long Lake Hydroelectric Power Plant

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    GE Renewable Energy and Continuum Green Energy sign another critical wind power project in India

    Heliogen Collaboration With CarbonCapture Inc to Develop Facilities That Remove Carbon Dioxide Directly from the Atmosphere

    Heliogen Collaboration With CarbonCapture Inc to Develop Facilities That Remove Carbon Dioxide Directly from the Atmosphere

    Construction begins on new units at two nuclear power plants in China

    China advances in nuclear power with world’s first small modular nuclear reactor

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Home Marine Energy

Bermuda and Seabased Sign Agreement for Site of 40MW Wave Energy Power Park

in Marine Energy, News
Bermuda and Seabased Sign Agreement for Site of 40MW Wave Energy Power Park

Fresh on the heels of COP26, Bermuda is leading in the energy transition by inaugurating the third vertical of renewable energy: blue ocean power. On November 22 in Hamilton, Bermuda, Deputy Premier and Minister of Home Affairs Hon. Walter Roban JP, MP, announced an agreement to move forward on the development of what promises to be the world’s first utility-scale commercial ocean wave power park. With a 40MW capacity, the park will fuel the island’s grid, providing roughly 10% of Bermuda’s energy needs.

“We appreciate the support of Seabased and the vision of Wendall Brown and the team to see Bermuda as an opportunity for this wonderful technology,” Roban said at the press conference. “We are the first jurisdiction in this region–North America, South America, and the Caribbean—to have the opportunity to deploy this technology. This is significant in that out of the COP26 events and the obvious commitment globally to begin to move away from fossil fuels, we have the opportunity to show that we are serious about this transition…. We are making a sincere effort, as a small island jurisdiction, to adapt.”

The Minister said the government of Bermuda is committed to attracting innovative solutions to the island and dedicated to an environmentally friendly sustainable future for its citizens and the planet. On an island beleaguered by the high cost of imported fossil fuels, Seabased wave power parks offer a renewable solution that reduces the cost of electricity and provides energy security. As part of the project, Seabased has been working with stakeholders in Bermuda and is finalizing an Environmental Impact Report.

“The Department of Environment and Natural Resources or DENR led this initiative,” Roban said. “It held multiple consultations with stakeholders, including the Ministry of Transport and Ministry of Public Works, the Marine Resources Board, and the Commercial Fisheries Council.” DENR, he said, worked to ensure that the location would not only provide the needed amount of renewable wave energy, but also produce minimal disruption to shipping lanes, while meeting several key sustainability and environmental goals.

Among these: striking a balanced approach with the fishing industry; having no impact on whales in the area; not harming any protected species, including coral and seagrass; and avoiding any impact on the marine heritage.

Previous studies have shown that a possible increase of biodiversity and desirable fish species can be achieved over time as a result of the park’s presence in the leased area, a few kilometers offshore from Bermuda’s airport on St. George’s Island.

“We have come to know, respect, and appreciate the Bermudan government and the representatives we work with in Bermuda,” said Seabased CEO Laurent Albert. “They have demonstrated their bold commitment, both to fighting climate change and to providing energy security from an abundant local renewable resource—the ocean. We are delighted to be working with Bermuda and with Mr. Brown, who has agreed to be our distributor in the Caribbean.”

An innovative solution for an innovative island

Seabased is a blue power company which harnesses ocean waves for abundant renewable consistent power at utility scale. A global market leader, its proprietary technology is protected by over 300 patents and was invented by professors Mats Leijon and Hans Bernhoff, internationally recognized electrical engineers who developed the technology initially at Uppsala University in Sweden.

“I am confident that this pilot will prove to be a success,” Roban said. “Seabased has extensively tested and refined its technology, including two successful full-scale demonstration wave power parks.”

Albert believes Seabased wave power parks can contribute greatly to enabling the green energy transition. “This will be the next, bold step in Bermuda’s renewable energy transition as well as Seabased’s industrial rollout. At the same time, it will address the urgent needs for a sustainable and clean energy future.”

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