SDE to Construct Second Power Plant in China

SDE, which builds and constructs sea  wave power plants, lately shipped a second sea wave power plant to China, according to an agreement of $ 0.8 million. Recently a new agreement of $ 1.2 million was signed under which SDE will construct two additional power plants of 500kW each. The partnership registered a local Chinese company with the Chinese government as a main share holder, to build sea wave power plants along the Chinese coast line.  

The power plant was built in Israel except of the buoys that will be built in China by the local company owned by the partnership and the Chinese government as a main share holder. The power plant will be installed in Hainan Island, which is the biggest island in China, located 30 km from Guangdong region. The power plant is capable of producing 150kW per hour comparing to the next power plant that will be installed on this island, producing 500kW per hour, which is already under construction in Israel.

This 150 kW power plant would be the 12^th power plant SDE is constructing in total, and the second one that will be installed in China with local Chinese partners. The power plant was developed and engineered in an environmentally friendly manner, beside to the fact that electricity is produced without any Environmental pollution.

The Company also has a large module of its unique system in its factory in Israel that stimulates wave movement and electricity production using the hydro-pneumatic system.

China especially needs the implementation of SDE’s technology due to the very high infection rates. As published in the “TIME” magazine”, “Linfen” and “Tianying” are the most Contaminated Chinese cities worldwide. The World Bank reported that 16 of the 20 most polluted cities in the world are located in China. Therefore the Chinese government made it a top priority to reduce pollution by using renewable energy sources like solar, wind and wave energy.

SDE has a unique invention for generating electricity from sea waves and was recently ranked by a team of independent scientists on PESWiki, as the world’s first technology for electricity from sea waves and between 100 of the world’s leading green technology companies. The Technology advantages include Storm resistance (the system is only 10% on waters, and 90% on land), low productions costs of only 2 cents per kw/h, full Utilization of wave energy, from coming and returning tidal and more.

The company was established 16 years ago, by the inventor of the system and acting CEO of the company today, Mr. Shmuel Ovadia. Ever since it was founded, SDE has built 12 power plants of its unique technology, and has established JV with local partners around the world, including in countries such as: Chile, Mexico, Tanzania, Kenya, and of course China. Until this day, Investors has invested in the company more than 2.5 million dollars, and this days the company is signing more agreements.

In the last few years we are witnessing a significant rise in demand for green and renewable 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.

There is a special need for sustainable energy alternatives, in light of the death of thousands of people every year, due to Fuel burning and etc. Recently, India was almost completely paralyzed due to the biggest power shortage in history that influenced about 600 million people that were left without electricity. Flights were canceled, and giant traffic jams occurred all over the capital of India. In addition, greenhouse gas emissions, as a result of population growth in China and India, is one of the causes for a Rapid increase in global warming.

Former Shell oil CEO, Mr. John Hofmeister, said to the London Magazine, “The Independent”, that oil barrel prices will soon be over 150$. He added that countries that will not generate alternative renewable sources of energy will go bankruptcy.

In addition, it was recently reported by the FT, that Siemens has announced its solar activities for sell due to losses, and will focus on areas hydro Hydroelectric and wind.

SDE is being constantly approached from governments and electric companies worldwide, which are interested in SDE’S sea wave power plants, as a clean, reliable source of energy.

[mappress]

Press release, December 5, 2012; Image: SDE