International software company Blackbird International Corporation through its renewable sea wave energy technology partner, Wave Electricity Renewable Power Ocean (WERPO), announced the development of a new power plant in South Africa this week.
Blackbird has agreed to set up this joint venture in order to erect a 500MW wave energy power plant.
The project will be managed through its wholly owned Israeli technology affiliate WERPO and local partner Wadamba Technovations.
Daniel Naimi, head of operations at Blackbird said: “We are most pleased with not only this joint venture but that this advances us in increasing our footprint in African countries.
“This initial project will generate in excess of $140 million in annual revenue.”
Wave energy off Africa’s coastline
Naimi explained: “This is the first of more projects in Africa. Each project will increase our revenue stream with the result of multiplying substantially shareholder value.”
According to a company statement, additional contracts will be released in the coming weeks.
South Africa’s nearly 3,000 km of coastline is the landing site for waves that are ideal for electricity generation using sea-wave technology.
The government of South Africa has expressed the desire to take advantage of their coastline as a way to achieve their alternative energy goals through the implementation of a series of power plants.
Blackbird explained that the Johannesburg based Wadamba Technovations’ owner, Thembelani Mbolekwana, has the ‘know-how to successfully implement, manage and spread WERPO’s sea wave energy technology’.
Mbolekwana is also a non-executive director at POSEGA HOLDINGS, PhiBon Capital and Mvunonala Holdings.
It is with this experience and connections that Mbolekwana will help take WERPO to the next level in Africa, stated Blackbird.
In Q4 2014, WERPO was erected in order to take on a public company shell through a reverse merger with Blackbird.
WERPO currently holds all the rights for SDE’s technology, property, IP’s, contracts and subsidiaries.
With SDE’s unique and innovative sea wave technology, alongside its new promotional capabilities through the public NYC OTC market, WERPO aims to broaden its work base and further promote its sea wave energy solution around the globe.
Shmuel Ovadia, the inventor of the wave energy technology and previous CEO of SDE, continues to develop his technology under WERPO and has taken a role as director in the company.