WERPO, together with Beijing Capital Group (BCG), is in discussions with one of the most important electric companies in China for the purpose of building a very large infrastructure for ocean powered generators to produce clean and efficient electricity.
WERPO has initially proposed to build a 100 MW Power Station which should generate approximately $25 Million in annual revenues.
Shmuel Ovadia, director at WERPO and inventor of its proprietary sea wave energy technology, stated, “China is one of WERPO’s strategic locations; it has the potential to supply enough energy for all of China due to the region’s vast expanse of ocean. This is most important since there are growing environmental concerns in China.”
As Bloomberg pointed out in a recent article, “World Energy Consumption to Increase 56% by 2040, led by Asia.” China has already surpassed the U.S. for energy use since 2010.
In 2013, China’s investment in renewable energy was $56.3 billion, accounting for 61 percent of the developing-country investment in renewables.