Eco Wave Power, known for its onshore wave energy technology, announced that it signed a Memorandum of Understanding (MoU) with Bharat Petroleum Corporation Limited (BPCL) during India Energy Week 2025.
The company said the agreement marks a “pivotal step” in introducing wave energy as a key component of India’s renewable energy strategy.
The collaboration aligns with India’s Ministry of New and Renewable Energy’s (MNRE) recognition of ocean energy as a promising renewable resource, Eco Wave Power said, with an estimated 40,000 MW of untapped potential along the country’s coastline.
BPCL, a government-owned Fortune 500 oil and gas giant with a market capitalization of approximately $12 billion, identified Eco Wave Power as a strategic partner following an evaluation of wave energy technologies.
As part of BPCL’s commitment to achieving Net Zero emissions by 2040, the company is expanding its renewable energy initiatives. Under this MoU, Eco Wave Power and BPCL will jointly develop wave energy projects across India, beginning with a feasibility study. The first phase will include the deployment of a 100 kW pilot project at BPCL’s Mumbai Oil Terminals, with plans for larger commercial-scale installations across the country.
BPCL will oversee regulatory approvals, permits, and land use consents, while Eco Wave Power will provide its patented wave energy conversion technology, conduct research, and optimize power generation efficiency.
Eco Wave Power argued the partnership offers it a direct entry point into “one of the world’s fastest-growing renewable energy markets,” leveraging BPCL’s infrastructure and finances. India’s commitment to increasing its renewable energy capacity, combined with BPCL’s strategic vision, presents a “significant commercial opportunity” in Eco Wave Power’s eyes.
“Partnering with BPCL, one of India’s largest energy companies, is a transformative moment for Eco Wave Power,” said Inna Braverman, Founder and CEO of Eco Wave Power. “With over 250 million people living along India’s 7,516 km coastline, the potential for wave energy is enormous. This MoU represents a major step toward positioning wave energy as a mainstream power source in India’s clean energy transition.”
In parallel with the signing ceremony, Eco Wave Power’s wave energy generation model have been showcased at the Net Zero pavilion during India Energy Week 2025 in New Delhi, providing industry leaders and policymakers firsthand insight into its technology.
