April 27 (Renewables Now) - Swedish wave energy company Seabased today said it has teamed up with United Arab Emirates-based Infocom Connect for wave power projects in Sri Lanka.
The first project with a capacity of 1 MW to 5 MW will power a fish farm. "This project is the first of what we hope will be many," said Seabased chief executive Oivind Magnussen. "The wave climate and eagerness to increase the dependence on renewables make Sri Lanka an ideal early customer for Seabased," Magnussen added.
Seabased is currently raising SEK 5 million (USD 576,000/EUR 476,000) on crowdfunding platform Invesdor. The company is looking to hold an initial public offering (IPO) this year.
In March, it said it has been contracted by TC's Energy of Ghana to deliver a 100-MW wave energy plant in the African country.
(SEK 10 = USD 1.151/EUR 0.952)