+358 9 888 4881 info@wello.eu

Press release, 28.12.2017 at 8.40. The Finnish clean energy company Wello has developed a wave energy solution, which captures the energy derived from passing ocean waves. The company has now received its’ first order a commercial wave energy park. The electricity produced from the park will have zero emissions.

PICTURE 1: The Wello Penguin – For over 10 years, Wello has been developing a device that captures the energy from passing waves. The 10 MW wave energy park will be the largest in the world.

 

Gapura Energi Utama (GEU), an Indonesian infrastructure construction company has ordered a 10 MW Wello Penguin wave energy park. The park will be located next to Nusa Penida Island in Bali and it will be the largest wave energy park globally. The delivery will take place after the permitting process is finalized, which is estimated to occur in the end of 2018.

The patented Wello Penguin wave energy converter has been developed and tested for almost 10 years. The device has experienced the harshest ocean conditions and waves raising up to 18 meters. The Wello Penguin floats on water and captures kinetic energy from the waves, which is then turned into electrical power with zero emissions. The device does not have any moving parts in contact with sea water and the service needs are minimal. Remote connection allows for continuous monitoring and adjustment of the solution. The Wello Penguin produces no visual or noise pollution and it can be utilized on almost any ocean coast.

“I am extremely proud that our long-term development work is now rewarded with this order. This is just the beginning, as there is global sales potential for the Wello Penguin wave energy device”, says Heikki Paakkinen, the CEO and founder of Wello.

“The cost of energy generated with Wello Penguin is already very competitive compared to offshore wind energy, and in serial production we aim for a further 50% cost reduction”, Paakkinen continues.

The potential market for the Wello Penguin in Indonesia alone is worth over a billion euros. However, the solution is viable globally on almost any ocean coast. Wello has also entered into a representation agreement for the Indonesian market with GEU.

Komang Agus Pribadiana, President Manager, GEU comments: “Indonesia’s ocean wave energy potential is more than 17 GW, but not yet explored at all. Teaming up with Wello is truly a brilliant idea and a strategic maneuver to capture the huge ocean waves utility market. This alliance could ignite the fabrication of a 100% local content hull and other supporting equipment could be produced locally as well.”

For further information, please contact:

Wello Oy

Heikki Paakkinen, CEO

+358 407575469

heikki.paakkinen@wello.eu

 

PICTURE 2: One of preferred location for the Wello wave energy park in Nusa Penida.

Wello in brief

Wello Oy is a Finnish clean energy company that produces wave energy converters with minimal impact to the environment whilst offering economic benefits for local communities at deployment sites. Estlander Holding, Fortum, Innovestor Ventures and VNT Management own 78.8 % of the company. The company was founded in 2008 and it has operations in Finland and in Scotland.

Gapura Energi Utama in Brief

Gapura Energi Utama (GEU) is an Indonesian renewable energy company solely to be used for the purpose of investment activities natural renewable energy production. The company is an affiliate of Bagun Tjipta Sarana and it was founded in 2014.

Nusa Penida in brief

Nusa Penida island is a growing world-class tourist destination. In order to promote the island for eco-tourism, the Government of Indonesia has mandated PLN to turn Nusa Penida into a green energy island. Hence, as part of PLNs vision, it initiated a program to make the “Tiga Nusa” (or “Three Nusas”, consisting of Nusa Penida, and two other islands close by, namely, Nusa Lembongan and Nusa Ceningan) as the three Green Energy Islands. This means that any new power generation to be built in the near future in Nusa Penida is required to generate electricity using renewable energy (RE) sources.

Contact

Wello Oy

Kurjenkellontie 5 B
FI-02270 Espoo
Finland

+358 9 888 4881

info@wello.eu