By Cameron Chai
The Multilateral Investment Guarantee Agency of The World Bank (MIGA) has approved S.D.E's Sea Wave Power Plant.
This S.D.E technology is new, exclusive, weather-proofed and an inexpensive method to generate electricity by means of harvesting sea wave motions. The company builds and designs plant models, in which only 10% of the entire system is in water and reduces the risk during natural disasters.
Nowadays, there is a significant demand for green and renovated energy. Due to contamination in natural resources, there is less possibility of generating renewable energy and at present there is a necessity of developing sustainable energies.
As a result of the current earthquake in Japan, power generation from nuclear reactors has been stopped. So, there is chance of increase in fuel price in the future. The cost of an oil barrel is also increasing.
S.D.E’s sea wave power plant is cost-effective and requires $650,000/MW to build when compared to $1.5 million/MW for coal, $900,000/MW for gas, $3 million/MW for solar energy and $1.5 million/MW for wind power. Moreover, the electricity generating cost by S.D.E’s technology is lesser than other natural resources.
Also, S.D.E technology will be able to generate electricity at a level of 500 times of today’s global usage. S.D.E has set up 10 power stations models globally.