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Eco Wave Power Advances 1MW Wave Energy Project in Portugal

Story Highlights
  • Eco Wave Power paid the first grid connection fee installment for its 1MW project in Porto.
  • The project supports Portugal’s renewable goals and marks Eco Wave Power’s first megawatt-scale deployment in Europe.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Eco Wave Power Advances 1MW Wave Energy Project in Portugal

Confident Investing Starts Here:

Eco Wave Power Global ( (WAVE) ) has shared an announcement.

On May 28, 2025, Eco Wave Power Global AB announced the payment of the first installment of the grid connection fee for its 1MW wave energy project in Porto, Portugal. This marks a significant milestone in the project’s development and aligns with Portugal’s renewable energy goals. The company has accepted the connection conditions set by E-REDES, the Portuguese electricity distribution operator, and plans to integrate the project into Portugal’s energy system by 2026. This project is part of Eco Wave Power’s European growth strategy and represents its first megawatt-scale deployment in the region, furthering its commitment to wave energy commercialization.

The most recent analyst rating on (WAVE) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on Eco Wave Power Global stock, see the WAVE Stock Forecast page.

Spark’s Take on WAVE Stock

According to Spark, TipRanks’ AI Analyst, WAVE is a Neutral.

Eco Wave Power Global faces significant financial challenges, with negative profitability and cash flow issues. However, the company shows positive strategic progress and partnerships, as highlighted in the earnings call. Technical indicators are mixed, and valuations are unattractive, which together suggest cautious optimism.

To see Spark’s full report on WAVE stock, click here.

More about Eco Wave Power Global

Eco Wave Power Global AB is a leading onshore wave energy company that develops smart and cost-efficient technology to convert ocean and sea waves into sustainable electricity. The company operates the world’s first grid-connected wave energy system in Israel and is expanding globally with projects in Los Angeles, Taiwan, India, and Portugal. It is supported by organizations like the European Union Regional Development Fund and Innovate UK.

Average Trading Volume: 26,632

Technical Sentiment Signal: Hold

Current Market Cap: $33.94M

Learn more about WAVE stock on TipRanks’ Stock Analysis page.

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