Wave energy developer Eco Wave Power has signed a memorandum of understanding (MoU) with Bharat Petroleum Corporation Limited (BPCL) to explore the potential of wave energy in India.
According to Eco Wave Power, the agreement aims to advance the country’s renewable energy ambitions by leveraging its estimated 40,000 MW wave energy potential.
BPCL, a state-owned Fortune 500 company, assessed wave energy technologies and selected Eco Wave Power as a strategic partner. The partnership will begin with a feasibility study and then deploy a 100 kW pilot project at BPCL’s Mumbai Oil Terminals. The company noted that future plans include scaling up to commercial installations across India.
Under the MoU, BPCL will handle regulatory approvals, permits, and land use agreements. At the same time, Eco Wave Power is set to provide its patented wave energy conversion technology, conduct research, and optimize power generation efficiency.
The agreement was signed by Chandrasekhar N, Head of Research and Development at BPCL, and Inna Braverman, Founder, and CEO of Eco Wave Power, in the presence of Hardeep Singh Puri, Minister of Petroleum and Natural Gas of the Government of India, and G. Krishnakumar, Chairman and Managing Director of BPCL.
“Partnering with BPCL, one of India’s largest energy companies, is a transformative moment for Eco Wave Power,” said Braverman .
“With over 250 million people living along India’s 7,516 km coastline, the potential for wave energy is enormous. This MoU represents a major step toward positioning wave energy as a mainstream power source in India’s clean energy transition.”
The agreement is said to support BPCL’s goal of achieving net-zero emissions by 2040 as the company expands its renewable energy initiatives.
In early February, Eco Wave Power unveiled that it would sign a collaboration agreement with a Fortune 500 Indian company for the first wave energy pilot project in Maharashtra, India.
Eco Wave Power is also progressing on other wave energy ventures, including projects in Taiwan and the Port of Los Angeles , as it looks to scale up its technology globally.