Renewable Energy: Ocean Power & The Green Hydrogen Corridor

Eco Wave Power (Nasdaq: WAVE), a pioneering Israeli onshore wave energy company, has achieved significant operational milestones in early 2026 — and is now positioned at the centre of a potential landmark energy partnership with India. The company is currently awaiting a final purchase order from Bharat Petroleum Corporation Limited (BPCL) for a massive site assessment along India's coastline, following a memorandum of understanding signed in February 2025.

The BPCL partnership: wave energy meets India's energy ambitions

In February 2025, Eco Wave Power signed a non-binding MoU with Bharat Petroleum Corporation Limited (BPCL) — a government-owned Fortune 500 oil and gas giant with a market capitalisation of approximately $12 billion — to jointly develop wave energy projects in India. The first phase after the site assessment will include the deployment of a 100 kW pilot project at BPCL's Mumbai Oil Terminal.

BPCL identified Eco Wave Power as a strategic partner following an extensive evaluation of wave energy technologies. The collaboration aligns with India's Ministry of New and Renewable Energy's recognition of ocean energy as a promising renewable resource, with an estimated 40,000 MW of untapped potential along the country's 7,500 km coastline.

Proven technology: Israel's first grid-connected wave energy station

Eco Wave Power's EWP-EDF One project at Jaffa Port in Israel — the country's first wave energy project to supply clean electricity to the national grid — has demonstrated strong operational performance throughout 2025 and into 2026:

• Zero downtime since the beginning of 2025, operating reliably in wave conditions of approximately 1 metre and above
• Consistent electricity generation — over 2,000 kWh monthly in moderate wave conditions (1–2 metres)
• Record peak production — 56.7 kW achieved during 3-metre waves in February 2026, the highest output recorded at the site
• Operating expenses below 4% of CAPEX annually, validating cost efficiency

U.S. validation: Port of Los Angeles pilot

In September 2025, the company launched the first onshore wave energy project in the United States at the Port of Los Angeles, developed in collaboration with AltaSea and Shell Marine Renewable Energy. The project was named to TIME's Best Inventions of 2025 and drew the attention of U.S. Congresswoman Nanette Barragán, who called for a $1 billion federal investment in wave energy.

The pilot demonstrated that wave energy systems can be safely integrated with existing port infrastructure at capital costs of less than $1 million — without seabed anchoring, offshore construction, or subsea cabling. In March 2026, Eco Wave Power submitted the final report to Shell confirming all technical and operational objectives were achieved.

Global expansion pipeline: 404.7 MW under development

Beyond Israel and the U.S., Eco Wave Power is advancing projects across multiple markets:

• Portugal — first megawatt-scale wave energy station under a 20 MW concession, with grid connection fees paid and execution plan submitted
• Taiwan — 100 kW project at Suao Port with local manufacturing partner I-Ke, land lease secured
• South Africa — feasibility study completed for an 8.3 MW project at the Port of Ngqura
• India — BPCL partnership for wave energy deployment along India's coastline

AI-driven energy optimisation: WaveGPT

During 2026, Eco Wave Power plans to develop WaveGPT — a proprietary software platform incorporating artificial intelligence and advanced analytics to analyse oceanographic and operational data, support predictive maintenance, optimise system performance, and forecast electricity generation. The company plans to collaborate with Florida Atlantic University on the platform's development.

Why this matters for India

India's coastline represents one of the world's largest untapped wave energy resources. The BPCL partnership positions Eco Wave Power's technology at the intersection of several converging trends: India's push toward renewable energy diversification, the "Make in India" manufacturing agenda, and the growing demand for clean electricity driven by AI and data centre expansion. With a government-backed Fortune 500 partner and proven technology across four continents, the India opportunity represents a potential inflection point for both the company and the broader wave energy sector.

Bottom line

Eco Wave Power has moved from concept to commercially validated technology — with grid-connected projects in Israel, a completed U.S. pilot endorsed by Shell and TIME magazine, and a 404.7 MW global pipeline. The pending BPCL purchase order for India's coastline assessment could unlock access to 40,000 MW of wave energy potential through a Fortune 500 partner. For companies and investors tracking the Israel-India clean energy corridor, this is one to watch.