Ocean Energy on the Course for Commercialization: Poland and Denmark Lead the Way

By Marek Grzybowski

The ocean wave energy sector is heading towards commercialization. The number of pre-commercial tidal farms is constantly growing. Several more full-size devices have been implemented recently. A series of installations with a total capacity of 165 MW are planned to be launched over the next 5 years. 15 systems using wave energy to produce electricity are in the implementation phase – according to data collected by Ocean Energy Europe (OEE) and published in April 2025.

Companies from Denmark and Poland participated in one of the first projects to build power plants that use energy from waves. The Danes stayed on the wave. Polish companies did not maintain relationships with partners, did not enter into new projects. Poles, to put it bluntly, gave up on participating in projects. Companies gave up on maintaining the position of an innovator in this market.
Currently, the cumulative electricity production from ocean energy in Europe has reached 106 GWh in 2024. – This proves the reliability of installed equipment over longer periods and confirms that recent technological advances reduce maintenance cycles and stabilize production – emphasizes Ocean Energy Europe in the report.

According to OEE, “Interest of private investors in ocean energy is growing as the technology advances and public funding provides a “validation stamp” for projects. Since 2023, publicly announced private investments in the sector have totaled €60 million. This does not include undisclosed contracts”.

– The UK and France have shown, with the example of using tides [for energy production – MG], that when there is national support for projects, innovative projects develop and private investors quickly join their implementation – says Valentin Dupont, Senior Policy Officer at Ocean Energy Europe.

It started in Gdańsk

Let us recall that the world’s first sea wave power plant was built in Gdańsk, in the Odys Shipyard in 2009. The author of the idea and initial design is the Wave Star Energy company from Denmark. The technical implementation design was prepared by engineers from the Odys Shipyard together with the Gdańsk design office StoGda. The preparation of the design and construction of the device took over 2 years.

Let us recall that Odys built a 1:10 model in Gdańsk, which has been working since April 2006. It was assembled in coastal waters near the northern coast of Denmark in the North Sea, near Nissum Bredning. During several years of trial operation, the device survived seven significant storms that did not damage the power plant.

In 2009, a larger model was presented. It was in a 1:2 scale of the planned power plant. The 600 kW test section was installed in Hanstholm on 18 September 2009. The installation was carried out in two days. In autumn 2009, a jetty was built to provide access to the equipment. The plant was connected to the electricity grid in February 2010 and operated efficiently until 2013.
In addition to European and national grant funding, tidal projects are implemented under innovation support programmes in the UK and France. – As expected, this long-term commitment by national governments has created a market perspective and attracted private investment, notes Ocean Energy Europe.

Ocean energy in the Faroe Islands
The original Minesto submarine kite is positioned on the main tidal channels. In the Faroe Islands, the Minesto swimmers are part of one of the world’s most ambitious energy transformation programs. With these installations, the goal is to achieve 100% renewable energy by 2030.
The energy is supplied by the local energy company Sev. The Minesto installation is to be a fundamental part of the Faroe Islands’ energy mix. Sev is committed to purchasing the electricity generated by Minesto’s tidal kite systems.
Underwater mobile power generators achieve better results than stationary turbines. As a result, they are inexpensive to install, service and operate, the manufacturer claims. The essence of underwater kites here: https://youtu.be/5tkgTrkKoe0

The concept of the Faroe Islands’ zero-emission energy system will be largely realized by energy supplied from a system developed by Minesto engineers. The plan is to install 200 MW of tidal power plants on the Faroe Islands. The detailed large-scale construction plan specifies the gradual installation of tidal kite systems.

Each of the systems has an installed capacity of 20–40 MW. They will operate in four verified locations. The first system is already in operation and connected to the grid in the Vestmannasund area. Minesto has identified further areas for the installation of underwater generator sets in Hestfjord, Leirviksfjord, Skopunarfjord and Svinoyarfjord as ideal for obtaining energy from tides. With a total capacity of 200 MW of tidal power, the sets would cover 40% of the growing electricity consumption in the Faroe Islands.

Testing the technology
OEE emphasizes that “Continuous and coordinated interaction of income support and grant funding is needed to further develop the offer and accelerate the industrial use of ocean energy”. After a series of trials, it turns out that “Wave energy has reached key technological and financial milestones”. Further implementations are already operating in offshore waters, which have been carried out since the installation of the first wave power plant in Denmark.

Since then, several technologies have been tested, which OEE believes are ready for industrial implementation. European financial support for various solutions has helped to develop new technologies. It has also enabled testing of the operation of wave energy facilities. It emphasizes that “However, national project support programs will be crucial for the implementation of projects on a commercial scale.

NOVIGE sees potential
This potential is seen by Jan G. Skjoldhammer, CEO of NOVIGE AB, champion of the innovation mission, innovator of the year, winner of the Propeller Prize – Stena Line, winner of Startup4Climate, Seal of Excellence of the European Commission. His company has created NoviOcean Alta Wave 1000H. It is a generator with a capacity of 3,500 MWh. It uses the energy of waves, wind, sun. Its efficiency is determined in optimal conditions at 31 kW/per million EUR. The company claims that the CAPEX (capital expenditure) of a NoviOcean unit is below 2 million EUR after 100 units produced.

The OEE report notes that interest in energy from ocean waves is also maintained in the USA, India and China. Public entities are investing large funds in the development of energy obtained from the oceans. The United States has committed $141 million in public support for ocean energy in 2024. This is the highest annual U.S. budget for ocean energy to date and brings total public support over the past five years to $591 million, clearly exceeding Europe’s spending on such solutions.

Technologies in China will use wave density

– China’s vast coastline of 14,500 km, of which 43% is near the sea, boasts a wave energy density of 6 kW/m. This translates into a theoretical potential of 762 TWh/year, which is a significant 1/10 of the country’s electricity demand – NoviOcean experts calculated.

China is actively investing in wave energy research and development, positioning itself as a future leader in this sustainable energy source. China is literally taking a technological leap in the use of wave energy from floating devices. Two years ago, the Nankun offshore power plant was launched in Zhuhai, Guangdong Province. According to China Southern Power Grid, the main developer of the device, the entire device weighs 6,000 tons.
The offshore power plant can generate up to 24,000 kilowatt-hours of electricity per day, which is equivalent to the daily electricity consumption of 3,500 households, reports Liu Yukun of China Daily. The device works as a renewable energy source. It uses the potential energy of the up and down movement of waves and the force of their forward and backward movement to drive generators to produce electricity, explains Southern Power Grid.
Liu Shi, chief technical expert of China Southern Power Grid Technology Co., Ltd, said that the device consists of a semi-submersible platform, a hydraulic system, a power generation system, a control system and a mooring system. By “absorbing” waves by the semi-submersible platform and using their energy through an independently developed energy conversion system, the device achieves three-stage energy conversion from wave energy to hydraulic energy and then to electrical energy.

Liu said that at present, domestic and foreign wave power generation equipment has a capacity of only a few hundred kilowatts, and this wave power generation system is a significant advance in the development of wave energy technology in China. Experts said that the rapid development of wave energy will not only provide clean energy for remote offshore islands, but also have a wide range of applications, such as supporting marine observation, seawater desalination and purification, offshore hydrogen production and deep-sea aquaculture.
Lin Boqiang, head of the China Institute of Energy Policy Studies at Xiamen University, said that although wave energy has broad development prospects, the industry still faces many challenges in terms of technological progress and cost reduction. “Many wave energy facilities are still in the trial stage. There is still a long way to go before commercial applications can be realized,” Lin Boqiang said.

In addition, further efforts are needed to improve conversion efficiency due to the large fluctuations of sea waves. Moreover, turbulent waves make it difficult to design a device that can withstand storms while reliably generating power. In recent years, China has stepped up its efforts to develop clean energy from facilities installed in territorial seas.

In 2023, the NEA said that the development of coastal nuclear power and offshore wind power will be accelerated. In the same month, guidelines issued by the NEA indicated plans to build offshore wind farms and start construction of offshore photovoltaic projects.

India – 40 thousand megawatts from waves
In early 2025, Bharat Petroleum Corporation Limited (BPCL) signed an agreement to finance the development of wave energy technology in India. The first phase will include the implementation of a 100 kW pilot project. Bharat Petroleum Corporation Limited (BPCL) will finance the work of researchers led by Eco Wave Power Global AB.

Under the agreement, the parties will jointly develop wave energy projects, starting with a feasibility study. The first phase will include the implementation of a 100 kW pilot project. The installations will be installed at BPCL’s oil terminals in Mumbai. After their trials and modifications, there are plans to create larger commercial-scale installations across the country.
BPCL will oversee the regulatory processes, permits and land use approvals, while Eco Wave Power (EWP) will implement the patented wave energy conversion technology. Eco Wave Power Global AB (Nasdaq: WAVE) received, among others, a GREENinMED grant. This is part of the support organized by the European Union, within the framework of the ENI CBC Mediterranean Basin Program.
In India, EWP will conduct research and optimize the efficiency of devices used to generate energy. The project is supported by the Indian Ministry of New Energy and Renewable Energy. According to estimates by scientists from India, obtaining ocean energy is prospective, with the potential of energy from waves estimated at 40 thousand megawatts from installations located along the country’s coastline.

Eco Wave Power Global Installation
In November 2024, Eco Wave Power Global AB (Nasdaq: WAVE) announced that it had received a New Wave Power Plant (NWP) from the U.S. Army Corps of Engineers to operate a wave energy facility. The unit will be installed at the company’s headquarters in AltaSea in the Port of Los Angeles.

Eco Wave Power will operate the first wave energy plant of its kind in the United States. The permit was issued under NWP 52 for pilot projects for water-based renewable energy generation. Specifically, it authorizes Eco Wave Power to install eight wave energy floats on piles in the existing concrete pier structure on the east side of Municipal Pier One. The system will also have a land-based energy conversion unit. It will be housed in two 20 TEU containers. Eco Wave Power planned to complete the installation by the end of the first quarter of 2025.

Europe on an energy wave
– Projects in energy obtained from sea waves are economically efficient and will provide profits for investors – notes Valentin Dupont and suggests developing projects in Portugal, Spain, Great Britain and Ireland. – At the stage of research and verification of demonstration projects, EU funding will remain essential to drive new implementations and development of the industry – claims Dupont.

The European Investment Bank must – in his opinion – step in with debt financing and guarantees to support the first pre-commercial farms using ocean waves. This will reduce the cost of capital, attract private investment and develop industrialization on the continent in this segment of maritime industries. Dupont believes that “Ocean energy is an opportunity to implement the EU’s program for competitiveness and decarbonization”. The new maritime industry could generate 400,000 jobs in Europe. Provided that the installed capacity of wave energy reaches 100 GW of renewable energy.
OEE states in the report that “Thanks to the improvement of technologies and the security provided by public funding, private investors are increasingly interested in ocean energy”. In the last two years, private investments have reached a total of EUR 60 million, excluding additional undisclosed funds. In 2024, CorPower Ocean raised EUR 32 million from institutional investors, which is the largest single investment in a European wave energy company. This confirms the trend identified in 2023. At that time, funds were raised for wave energy technologies with the issuance of shares of Minesto worth EUR 10.7 million and the development of Oneka Technologies worth EUR 8.7 million.

Oneka Technologies transforms seawater into freshwater in an innovative and sustainable way, using wave energy. It is a device anchored in the coastal zone. – Over the years, we have developed extensive experience in the exploitation of wave energy and are now able to offer our customers efficient and reliable patented solutions – emphasizes Oneka and notes that Oneka’s water quality is adjusted to the standards of the World Health Organization and/or local water standards”. Crowdfunding and private investors are becoming increasingly active sources of capital raising. OEE experts have determined that “Over the past two years, over EUR 5 million has been raised through these channels”. Wavepiston has raised over EUR 2 million and HydroQuest has obtained EUR 1.5 million in crowdfunding or retail investment rounds. The attractiveness of ocean energy is therefore growing. It is therefore worth it for Polish companies operating in the maritime industries to also take a closer look at this growing market. There is a chance to return to it or simply to exist.