Wave Energy


2021.03.15Hit : 881

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On March 12, 2021, INGINE was selected to receive financial support from the Korea Environmental Industry & Technology Institute (KEITI) to strengthen Indonesia project development and facilitate Green Climate Fund (GCF) financing.

INGINE has been developing a 10MW Sustainable Wave Energy project in Indonesia since August 2018, working with Indonesian and Korean stakeholders to apply for the Project Preparation Facility (PPF) of the Green Climate Fund (GCF). Indonesia, as the world’s largest archipelago with more than 17,500 islands, is ideally suited for the deployment of wave energy. Threatened by global warming, the country is also one of the world’s largest greenhouse gas (GHG) emitters. The Indonesian climate change response includes the development of alternative renewable energy sources in order to reach the Nationally Determined Contribution (NDC) to emissions reduction.

Over the past two years, significant survey and screening work has been conducted by INGINE teams and our partners, centered around potential deployment in Nusa Penida, southeast of Bali province. The island is currently constrained by its isolated, diesel-dependent energy supply and growing electricity demand due to economic growth and tourism. The proposed Sustainable Wave Energy project is set to have positive environmental and socio-economic impact on local communities.

The awarding of financial support from the Korea Environmental Industry & Technology Institute (KEITI) comes in acknowledgement of project development efforts up to now, including continuous stakeholder engagement. Such engagement has led to milestones like the release of the Non-Objection Letter from the Indonesian Ministry of Finance in Q4 of 2019, and of a Letter of Intent from PT Indonesia Power in November 2020. INGINE was also highly evaluated in terms of technological innovation, paradigm shift potential and climate rationale.

Through KEITI’s support program and over the next five months, additional site investigation will be conducted in Indonesia, while consultations with project stakeholders will intensify. As a result, a strengthened PPF proposal will be submitted to GCF with improved chances of success. In case of selection to benefit from the Project Preparation Facility, a full-blown feasibility study will be conducted, covering all aspects of the project from technical and regulatory processes to high standards of environmental and social impact assessment.