BPCL and Eco Wave Power Sign Landmark MoU

NEW DELHI:
In a major step toward revolutionizing India’s renewable energy landscape, Bharat Petroleum Corporation Limited (BPCL) has signed a Memorandum of Understanding (MoU) with Eco Wave Power Global AB (Eco Wave Power) to develop wave energy-based renewable power projects across India jointly. The agreement, signed during India Energy Week 2025, marks a pivotal milestone in integrating wave energy as a significant component of India’s clean energy transition.

The MoU was signed by Chandrasekhar N, Head (R&D), BPCL, and Inna Braverman, Founder & CEO, Eco Wave Power, in the presence of Hardeep Singh Puri, Minister of Petroleum & Natural Gas, Government of India and G. Krishnakumar, Chairman & Managing Director, BPCL. This collaboration aligns with the Ministry of New and Renewable Energy’s (MNRE) recognition of ocean energy as a promising resource, with an estimated 40,000 MW of untapped potential along India’s coastline.

Pioneering Wave Energy in India
BPCL, a Fortune 500 oil and gas major with a market capitalization of approximately $12 billion, has identified Eco Wave Power as a strategic partner following an extensive evaluation of wave energy technologies. As part of BPCL’s commitment to Net Zero emissions by 2040, the company is expanding renewable energy portfolio, with wave energy playing a critical role.

Under this MoU, BPCL and Eco Wave Power will conduct a feasibility study for deploying wave energy projects across India. The first phase will focus on installing a 100–300 kW pilot project at BPCL’s Mumbai Oil Terminals, setting the foundation for larger commercial-scale installations.

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. This partnership directly allows Eco Wave Power to enter one of the world’s fastest-growing renewable energy markets, leveraging BPCL’s vast infrastructure and financial strength.

G. Krishnakumar, Chairman & Managing Director, BPCL, emphasized the significance of the collaboration, stating, “Wave energy is a largely untapped resource, and this collaboration will serve as a model for sustainable energy development in India. By integrating Eco Wave Power’s proven technology, we aim to drive innovation in clean energy production and contribute to India’s long-term renewable energy goals.”

Echoing this sentiment, Inna Braverman, Founder and CEO, Eco Wave Power, said, “Partnering with BPCL, one of India’s largest energy companies, is a transformative moment for 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.”

Showcasing Innovation at India Energy Week 2025
Eco Wave Power’s wave energy generation model was showcased at the Net Zero Pavilion during India Energy Week 2025 as part of the signing ceremony, allowing industry leaders and policymakers to gain firsthand insights into its technology.