Core Insights - Eco Wave Power Global AB has signed a Memorandum of Understanding (MoU) with Bharat Petroleum Corporation Limited (BPCL) to introduce wave energy as a significant part of India's renewable energy strategy [1][5][7] Group 1: Partnership Details - The MoU was signed during India Energy Week 2025, with key figures from both companies present, including India's Minister of Petroleum and Natural Gas [2][4] - BPCL, a government-owned Fortune 500 company with a market capitalization of approximately $12 billion, has chosen Eco Wave Power as a strategic partner after evaluating wave energy technologies [4][5] - The collaboration will begin with a feasibility study for a 100 kW pilot project at BPCL's Mumbai Oil Terminals, with plans for larger commercial-scale installations across India [5][6] Group 2: Market Potential - India's Ministry of New and Renewable Energy (MNRE) recognizes ocean energy as a promising renewable resource, estimating 40,000 MW of untapped potential along the coastline [3][4] - The partnership provides Eco Wave Power with access to one of the fastest-growing renewable energy markets, leveraging BPCL's infrastructure and financial strength [7][8] Group 3: Strategic Vision - BPCL aims to achieve Net Zero emissions by 2040 and is expanding its renewable energy initiatives through this collaboration [5] - Eco Wave Power's technology is positioned to play a crucial role in India's clean energy transition, with significant potential for wave energy along the country's extensive coastline [8]
Eco Wave Power and Fortune 500 Giant Bharat Petroleum (BPCL) to Tap into India's 40,000 MW Wave Energy Potential with Landmark MoU