$180 Million to Harvest Energy from the Sea Waves
20 December, 2017
Israeli Yam Pro Energy and the Indian Shapoorji Pallonji Group, plan to build a 150 MW power plant in Ghana, by harvesting energy from the coastal Sea Waves
Most alternative energy companies today are looking to the Wind, the Sun or Underground Thermal sources for the production of Green Energy. Yam Pro Energy from Israel took a different course: It went to the Sea shore and has developed a technology of harvesting energy from the coastal waves. Today the company announced that it has signed an MOU with Shapoorji Pallonji Group, the owners of the TATA Group, to build a wave energy power station in Ghana.
Shapoorji Group is about to provide $180 million finance umbrella to the new 150 MW power plant, to be completed within three years. The initial phase will be 10 MW. The partnership will consists of a local partner from Ghana, Yam Pro as the technology leader and SP Group with the responsibility to raise the finances.
In a joint statement, Zeev Peretz and Laser Rothshtein, the joint CEO’s of Yam Pro, said: “We are very excited today reaching such a substantial milestone, as one of the largest EPC (Engineering, Procurement, and Construction) companies in the world is giving confidence in our technology.” Shapoorji Pallonji Group (SP Group) is an Indian business conglomerate in India with a turnover of $4.2 billion USD and has a workforce of 60,000. The owners of SP Group hold 18% of Tata Group.
Floaters and Hydraulic arm power the Electric Generator
Yam Pro Energy is an Israeli-based renewable-energy company, subsidiary of Shahar Energy that was founded by Zeev Peretz and Laser Rothstein and is specializing in building Solar energy power stations in Germany and Israel. They established the company in 2014 after acquiring the assets and technology of Werpo Energy from the founder and inventor Shmuel Ovadia. Wepro were perfecting its unique technology for many years: It captures energy from the ocean’s waves via floaters that are specifically designed for each location.
Incoming waves lift and drop the floaters. The floaters are anchored to wave breakers and jetties by a hydraulic arm. The hydraulic arm has hydraulic fluid in it. The up/down motion of the floaters generates fluid pressure in the hydraulic arm, which in turn spins a generator that generates electricity and send it to the grid. A local computer monitor the weather patterns to secure smooth operation. In case of incoming storms, it and raise the floaters up out of the water to protect them from damage, and later on lowers the floaters back when the waves condition returns to normal.
According to the U.S. Energy Information Administration, if we could capture 1% of the ocean’s energy, we could produce enough power to meet the global energy demand 5 times over.
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