A new ocean energy project will soon open within Portugal’s commercial port of Viana do Castelo to facilitate the manufacture and servicing of wave energy converters.
The developer CorPower and the port authority have reached an agreement for the facility, which will also accommodate the demonstration of the HiWave-5 wave energy project.
The facility is hoped to accelerate the development of supply and service capacity for commercial wave energy farms.
The company, which will invest €16 million (£14.3m) for the facility, says the location was chosen due to the country’s natural resources and environmentally-consciousness outlook.
Patrik Möller, CEO of CorPower Ocean, said: “Wave energy can play a fundamental role in Portugal’s transition to 100% renewable energy while providing a platform to drive Portuguese exports and long-term investment opportunities for local supply chains.
“The arrival of HiWave-5 is set to reinforce Portugal’s reputation as a world leader in renewable energy, with significant investment in people, technology and facilities.”