Israeli wave energy developer Yam Pro Energy has signed a memorandum of understanding with an unnamed UK partner to develop 15MW wave energy farms in Scotland.
The plants will be built within 14 months at two different sites in Scotland, Yam Pro Energy said, with plans to add further 35MW in the next 3 years.
Yam Pro Energy’s partners will be responsible for raising 80-100% of the total cost of these projects.
To remind, Yam Pro Energy was formed by Shahar Energy after it bought the building, patent, and intellectual property rights from WERPO for its wave energy technology.
WERPO, owned by Blackbird International Corporation (BBRD), sold its rights for a 20% share in profits from the yet to be constructed wave energy projects.