SDE Plans $100 Million Wave-Power Plant for Government of GuineaLouise Downing
SDE Energy Ltd., a Tel Aviv-based maker of wave-power technology, plans to build a $100 million electricity plant in Guinea.
The Israeli company agreed with the government of the West African nation to install a 100-megawatt power station, Shmuel Ovadia, chief executive officer of SDE, said today by e-mail. Construction in Conakry will begin when funds are raised, the CEO said, without saying how long he expects this to take.
SDE will cover 70 percent of the costs and the government the rest, he said. Electricity will be transmitted to the grid and the facility may be expanded in the future.
As little as 0.1 percent of the power of the world’s waves may be able to supply five times its energy needs, according to the European Commission. No utility-scale projects are working yet as the technology is still experimental.
So far wave-energy costs work out at about $496 a megawatt-hour, according to Bloomberg estimates. The figure compares with about $78 a megawatt-hour for coal-fired power.