PLN Indonesia Power, Waves4power sign Memorandum of Understanding
to Develop WaveEL™ Wave Power Parks in Indonesia
Agreement Reached During Sweden-Indonesia Sustainability Partnership Week
GOTHENBURG, SWEDEN, December 2022 – PLN Indonesia Power and Waves4Power have signed a Memorandum of Understanding (MOU) to develop WaveEL™ wave power parks on a large scale in Indonesia in the next few years, with a first contract estimated in 2023.
The MOU was reached during Sweden-Indonesia Sustainability Partnership Week (SISP), a platform for multi-stakeholder dialogue to establish collaborations between Sweden and Indonesia to achieve the 2030 agenda for Sustainable Development Goals (SDG).
Sweden has had similar challenges to those Indonesia now faces, such as environmental pollution, inadequate waste management systems, and a high dependency on fossil fuels. To meet the ambitious targets of the SDGs, Sweden and Indonesia have fostered collaboration and have cooperative agreements at government levels to build a more sustainable world together.
Waves4Power has been part of the Business Acceleration Programme Indonesia (BAPI) initiated by The Swedish Energy Agency and run by Business Sweden in Indonesia. Through this program, Waves4Power has established a presence in Indonesia with a local representative, PT Bina Muda Teknikatama. They have represented Waves4Power at events and meetings and identified several business opportunities for Waves4Power in Indonesia.
Waves4Power is one of the leading wave power developers in the world. It harvests clean energy from ocean waves and converts it to electricity, without emitting harmful CO2. The energy in the waves is free and has the potential to greatly reduce or even eliminate the need for power from fossil fuel. Just 1 percent of the wave energy on United States; west coast is enough to supply one-third of the country’s total electricity needs, according to EPRI, Electric Power Research Institute USA.
Pictured from left: Swedish Ambassador, Ms. Marina Berg; PT Bina Muda Teknikatama, Mr. Firdaus Wajdi and Mr. Wisnu R. Maulana; Director of Business Development of PT. Indonesia Power, Mr. Bernadus Sudarmanta; President Director of Business Sweden Indonesia, Mr. Erik Odar.