In a ‘major step’ towards revolutionising India’s renewable energy landscape, Bharat Petroleum Corporation Ltd has signed a Memorandum of Understanding with Eco Wave Power Global to develop wave energy-based renewable power projects across India jointly. The agreement is believed to mark a pivotal moment in integrating wave energy as a significant component of India’s clean energy transition.
This collaboration aligns with the ministry of New and Renewable Energy’s recognition of ocean energy as a promising resource, with an estimated 40 000 MW of untapped potential along India’s coastline.
BPCL, a Fortune 500 oil and gas major with a market capitalisation of approximately $12 billion, has identified Eco Wave Power as a strategic partner ‘following an extensive evaluation of wave energy technologies’. As part of its commitment to Net Zero emissions by 2040, the company is expanding its renewable energy portfolio, with wave energy playing a critical role.
Under this MoU, BPCL and Eco Wave Power will conduct a feasibility study for deploying wave energy projects across India. The first phase will focus on installing a 100–300 kW pilot project at BPCL’s Mumbai Oil Terminals, setting the foundation for larger commercial-scale installations.
BPCL will oversee regulatory approvals, permits, and land use consents, while Eco Wave Power will provide its patented wave energy conversion technology, conduct research, and optimise power generation efficiency. This partnership directly allows Eco Wave Power to enter one of the world’s fastest-growing renewable energy markets, using BPCL’s huge infrastructure and financial strength.
Mr. G. Krishnakumar, chairman and MD of BPCL, commented: “Wave energy is a largely untapped resource, and this collaboration will serve as a model for sustainable energy development in India. By integrating Eco Wave Power’s proven technology, we aim to drive innovation in clean energy production and contribute to India’s long-term renewable energy goals.”
