World Bank Approves S.D.E’s Sea Wave Power Plant (Israel)

S.D.E’s Sea Wave Power Plant has been approved by MIGA (https://www.miga.org/) – The Multilateral Investment Guarantee Agency of The World Bank.

The technology S.D.E has developed is an innovative and unique technique for the production of electricity through “harvesting” of sea wave motions, a renewed and green source. This technology has proved itself as weather-proofed, low cost and low risk – plants models are built and designed in a way that only 10% of the whole system is actually inside the water, which minimizes the risk to the system in cases of storms and other natural disasters.

In the last few years we are witnessing a significant rise in demand for green and renovated energy. In light of global warming, desertification, floods and other disasters, all around the world people have come to understand that we can no longer continue producing energy by contaminating the environment and that there’s an urgent and essential need to develop sustainable alternatives.

S.D.E’s power plants models are built and designed in a way that only 10% of the whole system is actually in the water, which minimizes the risk to the system in cases of storms and other natural disasters.

The recent earthquakes in Japan caused great damage to the nuclear reactors, which resulted in electricity being shut off across the country, This has given other states pause when considering nuclear energy, and many are giving it a second thought. As a result, prices of fuel are to rise in the near future. The price of an oil barrel stands at about $100 per barrel, and keeps rising. Many states today cannot afford this price, and the result is power shutdowns and the deterioration of the state’s economy. The cost of building an S.D.E. sea wave power plant is more economical in that matter, costing $650,000/MW to build in comparison to $1.5 million/MW for coal, $900,000/MW for gas, $3 million/MW for solar energy and $1.5 million/MW for wind power. Additionally, the cost of producing electricity using S.D.E.’s technology is lower than when using coal, gas, solar energy or wind power, with electricity production cost 0.02 $ US per KW/h.

In addition, the technology developed by S.D.E is capable of producing electricity in a scale of 500 times of the world consumption today. S.D.E has a registered international patent. So far the company has established 10 models of power stations around the world, the last one recently finalized in China, funded by the Chinese Government.

Shell Oil’s former CEO John Hofmeister was recently interviewed by The Independent, where he predicted that the prices for oil will rise above 150$ a barrel in the near future. He added that the countries that do not succeed in developing alternative energy sources would fall into bankruptcy.

(prnewswire)

[mappress]

Source: prnewswire, March 24, 2011