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by Dalia Tal 10.12.2001 17:28 The Ministry of National Infrastructures gave SDE Energy a permit at the end of October 2001 to produce electricity through wave-generated power for $0.01 per kilowatt. The permit is for two years, contingent on meeting environmental regulations. These include using not more than 30% of fossil fuel to generate the electricity. Under the permit, SDE will initially supply 4 megawatts of electricity for $2.3 million. In the second stage, the company will supply 50 megawatts for $2.5 million. The company projects that the initial amount will be delivered within twelve months. The electricity will be sold to Israel Electric Corporation for $0.0525 per kilowatt. A return on the investment is expected within five years. Production of wave-generated electricity exploits the speed and highs and lows of sea waves to produce electricity. SDE managing director Shmuel Ovadia claims that the energy produced by waves can be used to generate an amount of electricity that will be 500 times as large as the world's electricity requirements. Ovadia believes that within a number of years, wave-generated electricity can provide electricity for three-quarters of the world's population, because 80% of the world's population lives near beaches. Ovadia says his pioneering method was developed by Israeli scientists, and is based on a patent registered in the US. The first commercial model was initially tried out in the Jaffa port. The system was developed with the assistance of the Office of the Ministry of Industry and Trade Chief Scientist. The company has so far sold systems for $500 million. The system developers also claim that by incorporating wave-generated power, the price of desalinated water can be reduced to $0.36 a cubic meter. A 50 megawatt power station will be able to produce 100 million cubic meters of desalinated water a year. Published by Israel's Business Arena on 10 December, 2001 |
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