Eco Wave Power Completes Feasibility Study for South Africa’s First Potential Wave Power Station

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

On February 17, 2026, Eco Wave Power announced it had completed a feasibility study, in partnership with Africa Great Future Development Ltd, for a potential onshore wave energy power station at South Africa’s Port of Ngqura. The study found technical potential for about 8.3 MW of installed capacity along the port’s breakwater, supporting the site’s suitability for wave energy integration using existing marine infrastructure.

Following the feasibility phase, AGFDL will review the results and jointly assess project structuring, permitting, and development timelines with Eco Wave Power, including options for a second site near East London. The project would mark Eco Wave Power’s entry into the African market and could become the continent’s first wave power station, reinforcing the company’s global pipeline as South Africa seeks cleaner, reliable power amid ongoing energy supply challenges.

The most recent analyst rating on (WAVE) stock is a Hold with a $4.50 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.

The score is primarily weighed down by weak financial performance (ongoing net losses, negative operating/free cash flow, and declining revenue), partially offset by a comparatively solid balance sheet with low leverage and a strong equity base. Technicals remain generally bearish with the stock below key longer-term moving averages and a negative MACD, while valuation is difficult to support given negative earnings and no dividend yield data.

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

More about Eco Wave Power Global

Eco Wave Power Global AB is a Stockholm-based, Nasdaq-listed onshore wave energy technology company that converts ocean and sea waves into grid-connected, clean electricity using patented systems mounted on existing coastal structures. The company operates Israel’s first grid-connected wave power station, has a pilot at the Port of Los Angeles, and is building a 404.7 MW international project pipeline across markets including Portugal, Taiwan, India, and the United States.

Average Trading Volume: 11,548

Technical Sentiment Signal: Sell

Current Market Cap: $29.5M

For detailed information about WAVE stock, go to TipRanks’ Stock Analysis page.