Port of spain s first new energy storage power station

What makes Spain a good market for Eco Wave Power?

Spain also has 8,000 km of coastline. The combination of Spain’s ambitious renewable energy goals, along with its significant coastline, makes it an optimal market for Eco Wave Power. We are very excited about the collaboration with Port Adriano and would like to thank them for being true wave energy pioneers.”

What is Spain's energy storage strategy?

Spain’s government has approved an energy storage strategy that it says will put the country “at the forefront” of what is being done in Europe and help it move towards its 2050 climate neutrality target. The roadmap foresees the country ramping up its storage capacity from the current 8.3GW level to 20GW by 2030 and then 30GW by 2050.

Will Spain be able to generate 74% of electricity by 2030?

Inna Braverman, Founder and CEO of Eco Wave Power commented: “When it comes to renewable energy, Spain foresees a sizeable buildout of new renewables capacity to reach 74% of electricity generation by 2030. Spain also has 8,000 km of coastline.

Will Spain phase out coal & nuclear power?

Spain further emphasized its focus on renewable energy by planning to phase out both coal and nuclear power generation. The coal phase-out appears well on track, with coal only providing around 5% of electricity generation in 2019 and even less in 2020.

What is the second stage of Port Adriano & Eco Wave Power?

The second stage involves the construction, operation and maintenance of the remaining capacity of the plant (2 MWs). Port Adriano will have a right of first refusal to invest partially or fully in both stages of the project, and Eco Wave Power will have the right to combine the two stages of the project and execute the whole 2MW from the start.

When will Spain's nuclear power shut down?

Nuclear power, which accounted for 22% of power generation in 2019, will begin shutting down from 2027. Four of Spain’s seven nuclear reactors are scheduled to close by the end of 2030, representing around 4 gigawatts of capacity.