Today in Ravenna, Italy, in the presence of the Prime Minister, Giuseppe Conte, CDP, Eni, Fincantieri and Terna signed a partnership agreement to set up a company for the development and manufacturing of wave-energy power plants.
This agreement will launch the first phase of a joint project to convert the Inertial Sea Wave Energy Converter (ISWEC) pilot project, an innovative system that transforms energy generated by waves into electricity, into an industrial-scale power station, making its application and use immediately available.
The partnership is focused on two phases: during the first phase, the companies will develop a business model and define a deployment plan for Italy. At the same time, the first ISWEC industrial installation will be completed near Eni’s Prezioso platform in the Strait of Sicily, in the Gela offshore, with a launch scheduled for the second half of 2020. During the second phase, the parties will work on the formal constitution of the new company, in addition to devising a plan for the production and development of activities, starting with the implementation in Italy’s minor islands first, and abroad at a later stage.