Swedish company Seabased has signed a three-party memorandum of understanding (MoU) with the Government of Grenada and SIDS DOCK to establish Grenada’s first utility-scale wave energy park.
The agreement outlines a phased project that will begin with a 2 MW pilot to showcase the potential of wave energy in driving economic and environmental resilience in Small Island Developing States (SIDS).
The project’s long-term goal is to scale up the pilot to a minimum of 10 MW, creating a model for island economies seeking reliable, clean energy alternatives to fossil fuels
This MoU comes as part of Grenada’s ongoing commitment to climate resilience and sustainable development, with the Government of Grenada seeking to leverage its abundant ocean resources to meet and exceed the island’s energy demands.
"Today’s MoU represents much more than an agreement—it embodies a shared commitment to harness the power of our oceans and transform that potential into tangible, sustainable benefits for island communities,” said Alan Barry, Seabased Director.
"This MoU signing between the Government of Grenada, SIDS DOCK, and Seabased represents a transformative step in our strategic pursuit of one of the key pillars under Grenada's Vision 75 - Energy, wave energy, as an innovative and scalable renewable energy source, embodies our commitment to climate resilience, energy security, and low-carbon economic growth.
“Grenada stands committed to this endeavor, fully aware that our actions today will serve as a testament to the world that small island nations are powerful agents of change in the global energy landscape,” added Kerryne James, Minister of Climate Resilience, the Environment, and Renewable Energy for the Government of Grenada.