Speaking to the Lusa agency, the director in Portugal of the Swedish technology company, Miguel Silva, said that between 2024 and 2025, the installation of the remaining three wave energy converters will be completed, providing for a production of 1.2 megawatts of energy, enough to serve 1,000 homes and representing an investment of €16 million.

Miguel Silva said that the first wave energy converter, in the shape of a buoy, nine meters in diameter, will be placed in the water in mid-November, about six kilometres from land, on Aguçadoura beach [ in Póvoa de Varzim].

According to the official, “the anchor that will fix the device and the electric submarine cable that will transport the energy, from the point of production, to a substation located on Barranha beach, in Aguçadoura, are already installed on site”.

According to the official, the project to install the four converters represents an investment of €16 million, but he stressed that the Swedish company intends to continue “evolving the technology and, at that time, the investment will be different”.