Eco Wave Power opens subsidiary in Portugal with advice from PLMJ
Eco Wave Power was founded in Tel Aviv Israel in 2011 and it is listed on Nasdaq First North Stockholm. The company produces energy through waves and recently opened a subsidiary in Porto. This decision was announced as a strategic one by the company. It will allow Eco Wave Power to begin official licensing procedures for its innovative wave energy project (for 20MW) designed for Portugal, and which is provided for in the concession contract signed with the Leixões Port Authority, APDL.
Eco Wave Power has talked about the enormous potential of our country to develop wave energy projects and, with the creation of a subsidiary in Portugal, the company becomes part of the renewable energy community operating in Portugal.
PLMJ advised Eco Wave Power with a multidisciplinary team composed of Joana Brandão, Nuno Serrão Faria, Rui Vasconcelos Pinto and Hugo Aparício. The firm represented the client in all the subsidiary's opening procedures and also took responsibility for handling the licensing procedures for the development of this project.