WERPO gets approval for 10-MW wave project in Sri Lanka
The wave energy device. Source: WERPO. License: All Rights Reserved.
Israeli firm WERPO has obtained clearance from Sri Lanka’s Ceylon Electricity Board (CEB) for a 10-MW sea wave power plant, its parent company Blackbird International Corp (OTCMKTS:BBRD) announced on Tuesday.
Upon completion of the initial 10-MW facility, WERPO may proceed with the construction of 10 other plants, its parent noted. The firm will sell the generated electricity to CEB at a price of USD 0.10 (EUR 0.09) per kWh. “[...] at this rate the company would recover its investment within 4 years,” said Shmuel Ovadia, director at WERPO and inventor of its wave power technology.
The company added it has set up a local subsidiary in Sri Lanka following the project approval.
CEB is the largest supplier of electricity in Sri Lanka.