Wedoany.com Report-Jul. 27, CorPower Ocean has received a €40 million grant from the EU Innovation Fund to develop VianaWave, a 10MW pre-commercial wave energy farm off the coast of northern Portugal. The project, set to commence operations in 2028 or 2029, will feature a CorPack array of 30 Wave Energy Converters (WECs), producing approximately 30GWh of electricity annually, sufficient to power 7,500 homes.

Building on the success of CorPower’s HiWave-5 demonstrator, VianaWave marks a significant step toward commercializing wave energy technology. The initiative aligns with Portugal’s National Energy and Climate Plan, which targets 200MW of wave energy capacity by 2030.

“This is a pivotal milestone for CorPower Ocean and the wave energy sector as a whole,” said CorPower Ocean commercial director Kevin Rebenius. “VianaWave shows that wave energy is ready to scale. With strong support from the Innovation Fund and the Portuguese ecosystem, we are accelerating the transition to a sustainable, resilient energy system while delivering local economic value.”

The project is expected to contribute significantly to Portugal’s economy, with approximately 75% of its lifetime value invested locally. This includes funding for electrical infrastructure in Agucadoura and Póvoa de Varzim, as well as the expansion of CorPower’s operational base at the Port of Viana do Castelo. These investments will strengthen local supply chains and create employment opportunities.

According to the EVOLVE study, Portugal has a wave energy potential of 15GW, positioning it as a key player in renewable energy development. VianaWave is anticipated to drive industrial growth, support job creation, and encourage further investment in clean energy infrastructure.

The project underscores CorPower Ocean’s commitment to advancing sustainable energy solutions. By leveraging wave energy, VianaWave will enhance Portugal’s renewable energy portfolio, contributing to a more resilient and environmentally friendly energy system. The collaboration with the EU Innovation Fund and local stakeholders highlights the potential for wave energy to play a significant role in the global transition to cleaner energy sources.