Swedish wave energy technology company, Seabased, has signed a Memorandum of Understanding (MoU) with Seafaradays Energy Pte Ltd, a New Delhi-based energy project developer.
The MoU involves plans for a wave energy plant off the Andaman and Nicobar Islands in the Indian Ocean.
The wave energy plant is planned to be established gradually, by installing 1MW in the first stage, followed by an expansion to ultimately 30MW.
The agreement between Seabased and Seafaradays Energy Pte Ltd also covers cooperation regarding offshore installation engineering and services in the international market.
Image: Seabased