SeWave p/f was formed in 2003 as a 50/50 joint venture company between SEV and Wavegen to research and build a commercial scale demonstration wave energy plant in the Faroes. A feasibility study, completed in March 2003, concluded that the Faroes had an excellent wave energy resource and identified locations which were particularly suited for a tunnelled wave energy convertor (TWEC).
The shareholders agreed that the objectives of SeWave would be research and development, power production and knowledge transfer.
In summary the key corporate milestones include:
May 2003: Feasibility Study of a Wavegen Wave Power Plant in the Faroe Islands.
Oct. 2003: Incorporation of SeWave P/F (Ltd.) – Shareholders SEV 50%, Wavegen 50%.
May 2005: Front Ed Engineering Design of a Tunnelled Wave Energy Converter for the Faroe Islands.
Dec. 2005: EU FP6 Proposal for a Demonstration Plant of a TWEC – named Project ALDA.
Mar. 2006: Market Assessment for Tunnelled Wave Energy Converters in Europe.
May 2006: The EU Commission offer a grant of €1,3 MIO to Project ALDA based on the FP6 proposal.
Aug. 2007: The Faroese Government announces its support to grant €1,3 to Project ALDA.
June 2008: The Faroese Parliament authorize the Faroese Government to grant Project ALDA
December 2008: SEV becomes the sole owner of SeWave
The wave motions outside the cliff face push the water into the tunnel-chamber, creating the function of a stamp for the air, which is pressured and pulled through a turbine.
From idea to reality Based on the findings from a Front End Engineering Design Report from 2005, it is po... Read more
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