Finnish technology firm Wärtsilä is adding wave energy devices to its technology portfolio as it continues its expansion into clean energy solutions.
The company has signed a global co-operation agreement with AW-Energy to market and install wave energy devices and take advantage of growing opportunities in the ocean energy market.
The agreement covers AW-Energy’s WaveRoller energy device and is part of a strategy by Wärtsilä to offer smart and sustainable technology solutions to its customers.
The firm has recently announced plans to expand into solar energy and energy storage technologies. It said in a statement that “ocean energy is the largest untapped renewable energy source with a potential for hundreds of GWs generation capacity.”
It added that in addition to the vast resource potential, ocean waves and sea states can be accurately predicted up to days in advance, making wave energy technology “the long awaited addition in the next generation energy mix”.
AW-Energy’s WaveRoller technology is involved in ongoing project developments in Europe, Asia and the Americas with a development pipeline of around 300 MW. “Cooperation with a world-class technology group like Wärtsilä demonstrates the commercial readiness level of our technology and positions AW-Energy as the frontrunner in the supply and development of wave energy technology,” said John Liljelund, CEO of AW-Energy.
The cooperation agreement will focus primarily on turnkey project deliveries. There is also potential for further co-operation between the companies in other fronts such as technology and life-cycle services, Wärtsilä said.