Portugal positions itself as Europe’s wave energy hub as CorPower Ocean expands towards commercial scale. The world leading wave energy company, CorPower Ocean, showcases how Portugal and Sweden can build a new clean energy industry based on the power of the Atlantic.
Viana do Castelo, Portugal – Portugal's Atlantic coastline, maritime heritage and industrial capabilities are uniquely positioning the country to become a global leader in wave energy.
The pioneering wave energy company, CorPower Ocean, welcomed a delegation from the Swedish-Portuguese Chamber of Commerce, led by H.E. Ambassador Johan Pehrson and representatives from Portuguese and Swedish industry, to its facilities in Viana do Castelo to discuss how wave energy can strengthen Portugal's energy security, industrial competitiveness and economic growth.
Hosted at CorPower Ocean's manufacturing and operations facilities, the visit highlighted the progress being made towards a commercial-scale wave energy industry in Portugal, with Viana do Castelo emerging as a key centre for innovation, manufacturing and future project deployment.
The programme included discussions on Europe's growing demand for competitive clean energy to power industry and data centres will be best satisfied in places where the lowest cost 24/7 clean power mix can be found. Here wave energy can play a strategic role in Iberia, by complementing solar and wind power to unlock some of the lowest cost of clean firm power supply in Europe.
What Wave Energy Can Do for Portugal
Portugal possesses one of Europe's largest wave energy resources and has the opportunity to develop an entirely new industrial sector built around the Atlantic Ocean.
Unlike solar and wind, wave energy produces electricity day and night and typically remains available when solar generation declines and wind conditions fluctuate. This makes wave energy a valuable complement to existing renewable energy sources and supports a more resilient, stable and affordable energy system.
The development of a Portuguese wave energy industry can create long-term opportunities across manufacturing, engineering, ports, offshore operations, logistics, vessel services, digital technologies and energy infrastructure.
As energy demand accelerates from industrial electrification, green fuels and large-scale data centres, wave energy can help provide fully domestic renewable power while reducing dependence on imported energy and strengthening Portugal's energy sovereignty.
The planned 15 MW VianaWave project, incorporating 45 commercial scale Wave Energy Converters, is expected to begin construction in 2028. It represents an important next step in demonstrating how commercial wave energy projects can contribute to Portugal's renewable energy mix while creating jobs and attracting investment to coastal regions.
"Portugal has all the ingredients required to become a global leader in wave energy. The country combines an exceptional wave resource with world-class maritime expertise, industrial capabilities and political ambition. We believe wave energy can become a new export industry for Portugal while helping deliver affordable, reliable and home-grown clean electricity to support economic growth, industrial competitiveness and energy security."
Co-founder and CEO of CorPower Ocean, Patrik Möller
"Portugal and Sweden share a strong commitment to innovation, sustainability and industrial development. CorPower Ocean is an excellent example of how Swedish technology and Portuguese capabilities can work together to create new industries, strengthen Europe's energy resilience and generate long-term economic value."
Ambassador of Sweden to Portugal, H.E Johan Pehrson
“Viana do Castelo has been carving out its own path, driven by a belief in a global transformation process rooted in local action and intelligence. We are deeply committed to the energy transition, which we approach through transformative local projects, and we are proud of two truly innovative and progressive projects in floating offshore wind and wave energy being driven by WindFloat Atlantic Project and CorPower Ocean. We are genuinely committed to driving real, concrete change through Viana do Castelo, seizing new opportunities and pioneering new ways to generate energy.”
Mayor of Viana do Castelo, Luís Nobre
"The history of Póvoa de Varzim is also a history of its connection to the sea, of adaptability and initiative. For generations, the people of Póvoa have known how to turn the resources of their territory into opportunities, build economic activity and strengthen their connection to the Atlantic. Today, we have the conditions to continue that journey, embracing new areas of innovation and investment, such as wave energy. The sea is strategic for Póvoa de Varzim and for Portugal. May this visit to CorPower Ocean be another step towards turning that potential into concrete opportunities for our territory and our people."
Mayor of Póvoa de Varzim, Andrea Silva
From Demonstration to Commercial Deployment
Portugal has played a central role in CorPower Ocean's journey from technology development to commercial readiness. Following successful demonstration of the first commercial scale machine in Portuguese waters and the establishment of manufacturing and testing capabilities in Viana do Castelo, the company is now focused on scaling towards utility-scale projects.
The next phase will see increasing investment in manufacturing capacity, supply chains, project deployment and local partnerships, creating opportunities for Portuguese companies throughout the value chain.
For Portugal, wave energy represents more than a new renewable energy source. It is an opportunity to establish global leadership in a fast-growing clean technology sector while creating skilled jobs, attracting investment and strengthening long-term energy security.
MEDIA CONTACT
Swedish Chamber of Commerce for Portugal
info@camaralusosueca.pt
CorPower Ocean
linda.nyberg@Corpowerocean.com
