This payment was made to E-REDES, the Portuguese electricity distribution system operator responsible for managing and operating the national distribution grid and ensuring secure and efficient access for producers and consumers alike.
Alongside the payment, Eco Wave Power officially communicated its Acceptance of the Connection Conditions for the public grid in relation to the UPP/5089 power plant.
By this communication, Eco Wave Power expressly agrees to all conditions and technical specifications outlined in the E-REDES letter and its accompanying documentation, thereby enabling the continued development and future integration of the project into Portugal's renewable energy ecosystem.
Additionally, Eco Wave Power has informed E-REDES of a tentative grid-connection date scheduled for 2026, pending final permitting, construction, and regulatory procedures.
This important step highlights Eco Wave Power's commitment to accelerating the deployment of reliable and innovative wave energy solutions in new markets and aligns with Portugal's national objectives to increase the share of renewables in its energy mix.
Eco Wave Power's project in Portugal represents a cornerstone of the Company's European growth strategy and marks its first megawatt-scale deployment in the region. Located at the City of Porto this 1MW implementation is the first phase of a 20MW concession agreement signed with APDL (Administração dos Portos do Douro, Leixões e Viana do Castelo, SA).
“Portugal is not only a global leader in renewable energy—it is now leading the way in wave energy commercialization,” said Inna Braverman, Founder and CEO of Eco Wave Power. "By securing grid connection for our first 1MW station, we are turning vision into reality. This is more than an infrastructure milestone – it's a signal that wave energy is moving from concept to contribution. Together with our incredible partners in Portugal, we are building a new era of clean, predictable power sourced directly from the ocean."
Strategically situated along the Atlantic coast, Portugal offers some of the highest wave energy potential in Europe, coupled with a forward-looking regulatory framework that actively supports marine renewable innovations. The country has committed to sourcing 85% of its electricity from renewables by 2030 – up from 61% in 2023 – making it a natural partner for Eco Wave Power's patented onshore wave energy technology.
